Advisor Group Holdings Inc. Grows Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Posted by Defense World Staff on Jun 1st, 2023

Advisor Group Holdings Inc. increased its stake in shares of Flex Ltd. (NASDAQ:FLEX – Get Rating) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,035 shares of the technology company’s stock after purchasing an additional 49,961 shares during the period. Advisor Group Holdings Inc. owned approximately 0.06% of Flex worth $5,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FLEX. Invesco Ltd. boosted its position in shares of Flex by 119.3% in the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock worth $195,729,000 after purchasing an additional 5,741,044 shares during the period. Two Sigma Investments LP bought a new position in shares of Flex during the third quarter worth $30,272,000. Balyasny Asset Management LLC lifted its position in Flex by 114.0% during the third quarter. Balyasny Asset Management LLC now owns 2,491,557 shares of the technology company’s stock valued at $41,509,000 after purchasing an additional 1,327,223 shares during the last quarter. Park West Asset Management LLC bought a new position in Flex during the third quarter valued at $18,992,000. Finally, BlackRock Inc. lifted its position in Flex by 19.0% during the third quarter. BlackRock Inc. now owns 6,762,532 shares of the technology company’s stock valued at $112,664,000 after purchasing an additional 1,077,354 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $20.60, for a total transaction of $206,000.00. Following the completion of the transaction, the director now directly owns 29,309 shares of the company’s stock, valued at approximately $603,765.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Daniel Wendler sold 1,512 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $21.95, for a total value of $33,188.40. Following the completion of the sale, the chief accounting officer now owns 18,266 shares of the company’s stock, valued at approximately $400,938.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $20.60, for a total transaction of $206,000.00. Following the sale, the director now directly owns 29,309 shares in the company, valued at approximately $603,765.40. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Flex Stock Performance

FLEX opened at $25.39 on Thursday. Flex Ltd. has a 12-month low of $13.63 and a 12-month high of $26.27. The company has a current ratio of 1.48, a quick ratio of 0.78 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $11.29 billion, a PE ratio of 14.85, a P/E/G ratio of 0.93 and a beta of 1.46. The firm has a 50 day moving average of $22.18 and a two-hundred day moving average of $22.33.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Flex in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Flex Company Profile

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Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment comprised of Communications, Enterprise and Cloud (CEC) includes data infrastructure, edge infrastructure and communications infrastructure, Lifestyle includes appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices include mobile and high velocity consumer devices.