Crestline Management LP Takes Position in FLEX LNG Ltd. (NYSE:FLNG)

Crestline Management LP bought a new position in FLEX LNG Ltd. (NYSE:FLNG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,283 shares of the company’s stock, valued at approximately $1,153,000. Crestline Management LP owned approximately 0.09% of FLEX LNG at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in shares of 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 buying an additional 558 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in shares of FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company’s stock valued at $231,000 after purchasing an additional 600 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of FLEX LNG by 3.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after purchasing an additional 666 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in FLEX LNG by 465.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $26,000 after buying an additional 941 shares during the period. Finally, WFA Asset Management Corp lifted its position in FLEX LNG by 106.8% in the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock worth $47,000 after buying an additional 1,068 shares during the last quarter.

FLEX LNG Stock Performance

Shares of NYSE:FLNG opened at $23.91 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The firm’s 50 day simple moving average is $22.53 and its 200-day simple moving average is $23.58. The firm has a market cap of $1.29 billion, a PE ratio of 10.97 and a beta of 0.45. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $30.48.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.70 earnings per share. As a group, equities analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds raised FLEX LNG to a “hold” rating in a research note on Monday, February 17th.

FLEX LNG Profile

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.