MGB Wealth Management LLC Reduces Holdings in FLEX LNG Ltd. (NYSE:FLNG)

MGB Wealth Management LLC trimmed its position in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 56.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,598 shares of the company's stock after selling 19,025 shares during the period. MGB Wealth Management LLC's holdings in FLEX LNG were worth $325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLNG. Financial Life Planners bought a new position in FLEX LNG during the fourth quarter valued at about $29,000. WFA Asset Management Corp grew its position in shares of FLEX LNG by 106.8% during the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock valued at $47,000 after acquiring an additional 1,068 shares during the period. GAMMA Investing LLC increased its stake in shares of FLEX LNG by 6,254.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company's stock worth $50,000 after purchasing an additional 1,939 shares during the last quarter. FMR LLC increased its stake in shares of FLEX LNG by 39.4% during the 3rd quarter. FMR LLC now owns 7,348 shares of the company's stock worth $189,000 after purchasing an additional 2,075 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of FLEX LNG in the 3rd quarter worth approximately $206,000.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a "hold" rating and set a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th.

FLEX LNG Stock Performance

FLEX LNG stock traded up $0.13 during midday trading on Monday, reaching $24.85. The stock had a trading volume of 301,087 shares, compared to its average volume of 431,521. The firm has a market capitalization of $1.34 billion, a PE ratio of 11.40 and a beta of 0.70. The company has a quick ratio of 2.18, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. The firm's 50-day moving average price is $24.08 and its 200 day moving average price is $25.04. FLEX LNG Ltd. has a 12 month low of $20.85 and a 12 month high of $30.48.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the company earned $0.70 earnings per share. As a group, research analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Thursday, February 20th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 12.07%. The ex-dividend date of this dividend is Thursday, February 20th. FLEX LNG's payout ratio is 137.62%.

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.