Denali Advisors LLC Grows Holdings in FLEX LNG Ltd. (NYSE:FLNG)

Denali Advisors LLC increased its stake in FLEX LNG Ltd. (NYSE:FLNG) by 19.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 236,900 shares of the company’s stock after acquiring an additional 39,100 shares during the quarter. Denali Advisors LLC’s holdings in FLEX LNG were worth $5,434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning acquired a new position in FLEX LNG during the 3rd quarter worth $206,000. Apollon Wealth Management LLC acquired a new position in FLEX LNG in the third quarter worth about $240,000. Jennison Associates LLC bought a new stake in FLEX LNG in the third quarter valued at about $1,460,000. Intech Investment Management LLC bought a new stake in FLEX LNG in the third quarter valued at about $210,000. Finally, FMR LLC raised its stake in FLEX LNG by 39.4% during the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after buying an additional 2,075 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on FLNG. Fearnley Fonds upgraded FLEX LNG to a “hold” rating in a research report on Monday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th.

FLEX LNG Price Performance

Shares of NYSE:FLNG opened at $22.91 on Wednesday. The company has a market cap of $1.23 billion, a PE ratio of 10.51 and a beta of 0.70. FLEX LNG Ltd. has a fifty-two week low of $20.85 and a fifty-two week high of $30.48. The firm has a 50-day simple moving average of $24.30 and a 200 day simple moving average of $24.94. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG) last posted its earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter last year, the firm earned $0.70 earnings per share. On average, sell-side analysts anticipate that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 13.10%. The ex-dividend date is Thursday, February 20th. FLEX LNG’s payout ratio is 137.61%.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.