Verition Fund Management LLC Makes New $337,000 Investment in FLEX LNG Ltd. (NYSE:FLNG)

Verition Fund Management LLC purchased a new position in shares of FLEX LNG Ltd. (NYSE:FLNG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,245 shares of the company’s stock, valued at approximately $337,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hosking Partners LLP grew its holdings in FLEX LNG by 42.0% during the 2nd quarter. Hosking Partners LLP now owns 287,625 shares of the company’s stock valued at $7,777,000 after purchasing an additional 85,040 shares in the last quarter. Denali Advisors LLC lifted its holdings in FLEX LNG by 96.5% during the 2nd quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock worth $4,283,000 after buying an additional 77,800 shares during the last quarter. Marshall Wace LLP grew its position in shares of FLEX LNG by 184.6% in the 2nd quarter. Marshall Wace LLP now owns 117,673 shares of the company’s stock worth $3,182,000 after acquiring an additional 76,321 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of FLEX LNG in the 3rd quarter valued at approximately $1,460,000. Finally, Renaissance Technologies LLC increased its holdings in shares of FLEX LNG by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 400,200 shares of the company’s stock valued at $10,821,000 after acquiring an additional 25,600 shares during the last quarter.

FLEX LNG Trading Up 0.1 %

NYSE FLNG opened at $22.29 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. FLEX LNG Ltd. has a one year low of $21.39 and a one year high of $31.41. The company has a 50-day simple moving average of $24.63 and a 200-day simple moving average of $25.99. The firm has a market capitalization of $1.19 billion, a PE ratio of 13.11 and a beta of 0.71.

FLEX LNG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 13.46%. The ex-dividend date of this dividend is Wednesday, November 27th. FLEX LNG’s dividend payout ratio (DPR) is presently 176.47%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “hold” rating and set a $24.00 price objective on shares of FLEX LNG in a research note on Tuesday, November 12th.

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.