Sigma Planning Corp Reduces Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

Sigma Planning Corp lowered its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 46.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,100 shares of the company’s stock after selling 7,008 shares during the period. Sigma Planning Corp’s holdings in FLEX LNG were worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in FLEX LNG in the 3rd quarter worth $64,000. Prosperity Wealth Management Inc. bought a new position in FLEX LNG in the 4th quarter worth $206,000. Great Valley Advisor Group Inc. bought a new position in FLEX LNG in the 3rd quarter worth $229,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in FLEX LNG by 37.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,790 shares of the company’s stock worth $234,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Colonial River Wealth Management LLC bought a new position in FLEX LNG in the 4th quarter worth $226,000.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered shares of FLEX LNG from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $23.00 in a report on Tuesday, February 27th.

FLEX LNG Price Performance

Shares of FLEX LNG stock opened at $26.15 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.86 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average of $25.51 and a 200 day moving average of $28.26. FLEX LNG Ltd. has a 1 year low of $24.16 and a 1 year high of $34.66.

FLEX LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The company had revenue of $97.23 million during the quarter, compared to analyst estimates of $98.38 million. FLEX LNG had a net margin of 32.35% and a return on equity of 15.86%. During the same period last year, the business earned $1.02 EPS. As a group, analysts anticipate that FLEX LNG Ltd. will post 2.19 EPS for the current fiscal year.

FLEX LNG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, February 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 11.47%. FLEX LNG’s dividend payout ratio is currently 134.53%.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.