Relx Plc (NYSE:RELX) Short Interest Update

Key Points

• Short interest surged 51.6% to 5,999,228 shares as of August 14, representing 0.3% of RELX’s outstanding shares and a 2.4-day days-to-cover ratio.
• Analyst sentiment remains favorable overall, with RELX holding a consensus “Moderate Buy” rating from one Strong Buy, four Buy, and three Hold recommendations.
• RELX shares fell 1.4% to $35.94, while institutional investors owned 15.02% of the company. The firm also declared a $0.2785 dividend payable September 15, although the article’s reported 157.0% yield appears inconsistent with the stock price.

Relx Plc (NYSE:RELX - Get Free Report) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 5,999,228 shares, a growth of 51.6% from the July 30th total of 3,956,270 shares. Based on an average daily volume of 2,463,796 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RELX shares. Barclays reissued an "overweight" rating on shares of Relx in a report on Friday, July 24th. The Goldman Sachs Group started coverage on Relx in a research report on Wednesday, June 3rd. They set a "buy" rating for the company. Wall Street Zen cut Relx from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Weiss Ratings raised Relx from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Finally, Morgan Stanley cut shares of Relx from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 7th. One research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Relx Stock Down 1.4%

NYSE:RELX traded down $0.49 during midday trading on Tuesday, hitting $35.94. 441,996 shares of the stock were exchanged, compared to its average volume of 3,196,603. Relx has a one year low of $27.57 and a one year high of $48.40. The business has a 50-day moving average price of $34.19 and a two-hundred day moving average price of $33.80. The company has a debt-to-equity ratio of 5.23, a current ratio of 0.45 and a quick ratio of 0.40.

Relx Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 7th will be issued a $0.2785 dividend. This represents a yield of 157.0%. The ex-dividend date of this dividend is Friday, August 7th.

Hedge Funds Weigh In On Relx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Relx by 7.4% in the second quarter. Geneos Wealth Management Inc. now owns 4,007 shares of the technology company's stock worth $218,000 after buying an additional 275 shares during the period. Horizon Investments LLC increased its holdings in shares of Relx by 23.0% in the 3rd quarter. Horizon Investments LLC now owns 1,517 shares of the technology company's stock valued at $72,000 after purchasing an additional 284 shares during the period. Hancock Whitney Corp increased its holdings in shares of Relx by 6.0% in the 3rd quarter. Hancock Whitney Corp now owns 5,196 shares of the technology company's stock valued at $248,000 after purchasing an additional 292 shares during the period. Lido Advisors LLC lifted its position in shares of Relx by 1.4% in the third quarter. Lido Advisors LLC now owns 22,124 shares of the technology company's stock worth $1,057,000 after purchasing an additional 299 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its position in Relx by 2.9% during the first quarter. Bridgewater Advisors Inc. now owns 11,404 shares of the technology company's stock valued at $361,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 15.02% of the company's stock.

About Relx

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.

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