Gilman Hill Asset Management LLC Sells 22,953 Shares of Flex LNG Ltd. $FLNG

Gilman Hill Asset Management LLC lowered its position in shares of Flex LNG Ltd. (NYSE:FLNG) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 358,474 shares of the company’s stock after selling 22,953 shares during the quarter. Flex LNG makes up about 1.4% of Gilman Hill Asset Management LLC’s holdings, making the stock its 15th biggest holding. Gilman Hill Asset Management LLC’s holdings in Flex LNG were worth $8,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLNG. Wealth Enhancement Advisory Services LLC bought a new position in shares of Flex LNG during the 4th quarter valued at about $253,000. NewEdge Advisors LLC bought a new stake in Flex LNG in the 3rd quarter worth approximately $208,000. Mariner LLC bought a new stake in Flex LNG in the 3rd quarter worth approximately $457,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Flex LNG in the third quarter worth approximately $28,392,000. Finally, Bank of America Corp DE boosted its stake in Flex LNG by 156.0% in the third quarter. Bank of America Corp DE now owns 104,541 shares of the company’s stock worth $2,634,000 after buying an additional 63,704 shares in the last quarter.

Flex LNG Stock Up 1.7%

FLNG opened at $30.88 on Wednesday. Flex LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $31.99. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 2.42. The business’s 50-day moving average price is $27.69 and its 200-day moving average price is $26.24. The company has a market cap of $1.66 billion, a P/E ratio of 22.22 and a beta of 0.31.

Flex LNG (NYSE:FLNG) last issued its earnings results on Wednesday, February 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.18). Flex LNG had a net margin of 21.52% and a return on equity of 13.46%. The company had revenue of $87.54 million for the quarter, compared to analysts’ expectations of $86.75 million. On average, equities analysts expect that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th were given a $0.75 dividend. The ex-dividend date was Friday, February 27th. This represents a $3.00 annualized dividend and a yield of 9.7%. Flex LNG’s payout ratio is presently 215.83%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLNG shares. Wall Street Zen downgraded shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.00.

About Flex LNG

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.