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Allspring Global Investments Holdings LLC Acquires 139,663 Shares of Relx Plc $RELX

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Key Points

  • Allspring Global Investments sharply increased its RELX stake by 697.7% in the first quarter, buying 139,663 additional shares and lifting its total position to 159,681 shares worth about $5.3 million.
  • Several other institutional investors also adjusted holdings in RELX, and hedge funds and other institutions now own 15.02% of the company’s stock.
  • RELX’s recent business update was largely positive: first-half underlying revenue rose 7% and adjusted operating profit climbed 9% to £1.7 billion, while the company also increased earnings and its dividend.
  • MarketBeat previews top five stocks to own in August.

Allspring Global Investments Holdings LLC boosted its stake in shares of Relx Plc (NYSE:RELX - Free Report) by 697.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,681 shares of the technology company's stock after buying an additional 139,663 shares during the period. Allspring Global Investments Holdings LLC's holdings in Relx were worth $5,306,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of Relx by 21.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 217,443 shares of the technology company's stock worth $8,789,000 after buying an additional 38,086 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Relx by 448.5% in the 4th quarter. M&T Bank Corp now owns 199,046 shares of the technology company's stock valued at $8,045,000 after purchasing an additional 162,755 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Relx in the 3rd quarter worth approximately $1,441,000. Timber Creek Capital Management LLC boosted its stake in shares of Relx by 49.6% during the fourth quarter. Timber Creek Capital Management LLC now owns 72,813 shares of the technology company's stock valued at $2,943,000 after purchasing an additional 24,143 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Relx by 26.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 109,626 shares of the technology company's stock valued at $4,431,000 after buying an additional 22,993 shares during the period. Hedge funds and other institutional investors own 15.02% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RELX. The Goldman Sachs Group assumed coverage on Relx in a research report on Wednesday, June 3rd. They set a "buy" rating on the stock. Morgan Stanley downgraded shares of Relx from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 7th. Citigroup raised shares of Relx from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 8th. Wall Street Zen lowered Relx from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised Relx from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

View Our Latest Report on RELX

Relx News Summary

Here are the key news stories impacting Relx this week:

Relx Trading Up 0.5%

Relx stock opened at $32.91 on Friday. Relx Plc has a 52 week low of $27.57 and a 52 week high of $54.02. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 2.38. The stock has a 50-day moving average price of $32.82 and a 200 day moving average price of $34.23.

Relx (NYSE:RELX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The technology company reported $45.44 EPS for the quarter, beating the consensus estimate of $0.89 by $44.55. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $6.54 billion. Research analysts predict that Relx Plc will post 1.94 earnings per share for the current year.

Relx Profile

(Free Report)

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX's offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.

See Also

Want to see what other hedge funds are holding RELX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Relx Plc (NYSE:RELX - Free Report).

Institutional Ownership by Quarter for Relx (NYSE:RELX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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