Gilman Hill Asset Management LLC Cuts Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

Gilman Hill Asset Management LLC cut its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 21.8% in the 4th quarter, HoldingsChannel reports. The firm owned 224,480 shares of the company’s stock after selling 62,673 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in FLEX LNG were worth $5,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of FLEX LNG by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 46,198 shares of the company’s stock worth $1,249,000 after purchasing an additional 2,412 shares during the period. Renaissance Technologies LLC raised its stake in shares of FLEX LNG by 6.8% in the second quarter. Renaissance Technologies LLC now owns 400,200 shares of the company’s stock valued at $10,821,000 after buying an additional 25,600 shares during the period. Beck Capital Management LLC grew its stake in shares of FLEX LNG by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 111,308 shares of the company’s stock worth $3,010,000 after acquiring an additional 911 shares during the period. Marshall Wace LLP increased its holdings in FLEX LNG by 184.6% in the 2nd quarter. Marshall Wace LLP now owns 117,673 shares of the company’s stock worth $3,182,000 after acquiring an additional 76,321 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in FLEX LNG by 7.7% in the 2nd quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock worth $306,000 after acquiring an additional 806 shares during the last quarter.

FLEX LNG Stock Down 2.7 %

FLNG opened at $25.08 on Monday. FLEX LNG Ltd. has a 12 month low of $20.85 and a 12 month high of $30.67. The company has a market cap of $1.35 billion, a PE ratio of 14.75 and a beta of 0.72. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. The company has a 50 day moving average of $23.85 and a 200 day moving average of $25.26.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.96%. The ex-dividend date was Wednesday, November 27th. FLEX LNG’s payout ratio is currently 176.47%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG 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.