GAMMA Investing LLC Has $50,000 Holdings in FLEX LNG Ltd. (NYSE:FLNG)

GAMMA Investing LLC increased its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 6,254.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,970 shares of the company’s stock after acquiring an additional 1,939 shares during the period. GAMMA Investing LLC’s holdings in FLEX LNG were worth $50,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new stake in shares of FLEX LNG in the 2nd quarter valued at about $47,000. Rothschild Investment LLC bought a new position in shares of FLEX LNG during the second quarter worth about $81,000. Redwood Wealth Management Group LLC acquired a new stake in FLEX LNG in the 2nd quarter valued at approximately $98,000. Virtu Financial LLC bought a new stake in FLEX LNG in the 4th quarter valued at approximately $200,000. Finally, Price T Rowe Associates Inc. MD boosted its position in FLEX LNG by 13.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock worth $218,000 after acquiring an additional 993 shares during the last quarter.

FLEX LNG Stock Up 1.9 %

NYSE:FLNG opened at $25.74 on Thursday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 10.13 and a beta of 0.71. The company has a quick ratio of 2.54, a current ratio of 2.57 and a debt-to-equity ratio of 2.01. FLEX LNG Ltd. has a twelve month low of $24.16 and a twelve month high of $32.23. The stock’s 50 day moving average price is $26.25 and its two-hundred day moving average price is $26.74.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. FLEX LNG had a net margin of 32.60% and a return on equity of 16.79%. The firm had revenue of $84.70 million for the quarter. Equities research analysts expect that FLEX LNG Ltd. will post 2.37 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date of this dividend was Thursday, August 29th. FLEX LNG’s dividend payout ratio is 118.11%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded shares of FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price objective on the stock in a report on Wednesday, August 14th.

FLEX LNG Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.