Virtu Financial LLC Takes Position in FLEX LNG Ltd. (NYSE:FLNG)

Virtu Financial LLC bought a new stake in shares of FLEX LNG Ltd. (NYSE:FLNG) during the fourth quarter, HoldingsChannel.com reports. The fund bought 15,830 shares of the company’s stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLNG. Intech Investment Management LLC boosted its holdings in FLEX LNG by 82.4% during the 4th quarter. Intech Investment Management LLC now owns 15,062 shares of the company’s stock valued at $346,000 after acquiring an additional 6,805 shares during the period. Signaturefd LLC raised its stake in shares of FLEX LNG by 76.5% during the fourth quarter. Signaturefd LLC now owns 4,941 shares of the company’s stock valued at $113,000 after acquiring an additional 2,141 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of FLEX LNG by 1,894.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company’s stock valued at $241,000 after purchasing an additional 9,967 shares during the period. Raymond James Financial Inc. bought a new position in FLEX LNG in the fourth quarter worth approximately $3,890,000. Finally, Steward Partners Investment Advisory LLC raised its position in FLEX LNG by 27.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock valued at $59,000 after purchasing an additional 558 shares in the last quarter.

FLEX LNG Stock Performance

Shares of NYSE:FLNG opened at $22.58 on Thursday. The firm has a 50 day moving average of $23.79 and a 200 day moving average of $24.30. 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 company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.36 and a beta of 0.62. FLEX LNG Ltd. has a 52 week low of $20.85 and a 52 week high of $30.48.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share 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 quarter in the previous year, the company posted $0.70 earnings per share. On average, sell-side analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.29%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG’s dividend payout ratio is currently 137.61%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a report on Monday, February 17th.

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.