AlphaCentric Advisors LLC Acquires New Holdings in FLEX LNG Ltd. (NYSE:FLNG)

AlphaCentric Advisors LLC acquired a new stake in FLEX LNG Ltd. (NYSE:FLNG) during the fourth quarter, Holdings Channel.com reports. The firm acquired 52,228 shares of the company’s stock, valued at approximately $1,198,000. FLEX LNG comprises approximately 1.2% of AlphaCentric Advisors LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors have also made changes to their positions in FLNG. Apollon Wealth Management LLC increased its position in FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock worth $231,000 after buying an additional 600 shares during the period. Financial Life Planners bought a new position in FLEX LNG in the 4th quarter worth approximately $29,000. WFA Asset Management Corp increased its position in FLEX LNG by 106.8% in the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock worth $47,000 after buying an additional 1,068 shares during the period. Dakota Wealth Management increased its position in FLEX LNG by 7.1% in the 4th quarter. Dakota Wealth Management now owns 24,441 shares of the company’s stock worth $561,000 after buying an additional 1,611 shares during the period. Finally, Arkadios Wealth Advisors increased its position in FLEX LNG by 70.4% in the 4th quarter. Arkadios Wealth Advisors now owns 14,398 shares of the company’s stock worth $330,000 after buying an additional 5,948 shares during the period.

FLEX LNG Stock Performance

Shares of NYSE FLNG opened at $24.85 on Monday. FLEX LNG Ltd. has a 12 month low of $20.85 and a 12 month high of $30.48. The company has a market cap of $1.34 billion, a P/E ratio of 11.40 and a beta of 0.70. The business’s 50 day moving average is $24.08 and its two-hundred day moving average is $25.04. The company has a quick ratio of 2.18, a current ratio of 2.99 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping 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 posted $0.70 EPS. On average, equities analysts expect that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 12.07%. The ex-dividend date is Thursday, February 20th. FLEX LNG’s payout ratio is presently 137.62%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Company Profile

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.