Trek Financial LLC Invests $3.83 Million in FLEX LNG Ltd. (NYSE:FLNG)

Trek Financial LLC bought a new position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 167,083 shares of the company's stock, valued at approximately $3,833,000. Trek Financial LLC owned 0.31% of FLEX LNG at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its position in shares of FLEX LNG by 27.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock worth $59,000 after acquiring an additional 558 shares during the period. Apollon Wealth Management LLC lifted its position in FLEX LNG by 6.3% in the fourth quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after purchasing an additional 600 shares during the period. Atria Wealth Solutions Inc. lifted its position in FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock worth $516,000 after purchasing an additional 666 shares during the period. Quadrant Capital Group LLC boosted its stake in FLEX LNG by 465.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock worth $26,000 after buying an additional 941 shares in the last quarter. Finally, WFA Asset Management Corp increased its holdings in FLEX LNG by 106.8% in the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock valued at $47,000 after buying an additional 1,068 shares during the period.

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FLEX LNG Price Performance

NYSE:FLNG traded up $0.88 during trading hours on Friday, reaching $22.28. The company had a trading volume of 174,938 shares, compared to its average volume of 360,169. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11. The stock has a 50-day moving average of $22.79 and a two-hundred day moving average of $23.92. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $30.48. The firm has a market capitalization of $1.20 billion, a PE ratio of 10.18 and a beta of 0.42.

FLEX LNG (NYSE:FLNG - Get Free Report) last issued 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 net margin of 33.03% and a return on equity of 15.61%. During the same period in the prior year, the firm posted $0.70 EPS. Analysts forecast that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Thursday, February 20th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 13.47%. FLEX LNG's dividend payout ratio (DPR) is presently 137.61%.

Analysts Set New Price Targets

A number of research firms have recently commented on FLNG. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a report on Monday, February 17th. Jefferies Financial Group restated a "hold" rating and set a $23.00 price target on shares of FLEX LNG in a research note on Tuesday, February 4th.

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.