Relx (NYSE:RELX) Shares Gap Up on Analyst Upgrade

Key Points

• RELX shares jumped 3.8% after TD Securities upgraded the stock to “strong buy,” opening at $35.67 versus the prior close of $33.80. The stock’s average analyst rating is “Moderate Buy.”
• Institutional investors and hedge funds have increased their positions, though they collectively own approximately 15.02% of the company.
• RELX announced a dividend of $0.2785 per share, while reporting high leverage with a 5.23 debt-to-equity ratio and low liquidity ratios.

Shares of Relx Plc (NYSE:RELX - Get Free Report) gapped up before the market opened on Monday after TD Securities upgraded the stock to a strong-buy rating. The stock had previously closed at $33.80, but opened at $35.67. Relx shares last traded at $35.2620, with a volume of 499,543 shares.

Several other brokerages also recently weighed in on RELX. The Goldman Sachs Group initiated coverage on Relx in a research note on Wednesday, June 3rd. They set a "buy" rating for the company. Weiss Ratings raised shares of Relx from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Relx from a "hold" rating to a "buy" rating in a research report on Saturday, September 5th. Barclays reiterated an "overweight" rating on shares of Relx in a research report on Friday, July 24th. Finally, TD Cowen started coverage on shares of Relx in a research note on Thursday. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Institutional Investors Weigh In On Relx

A number of hedge funds have recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Relx during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC lifted its stake in Relx by 2,468.4% in the 1st quarter. Whipplewood Advisors LLC now owns 976 shares of the technology company's stock worth $32,000 after purchasing an additional 938 shares in the last quarter. Transamerica Financial Advisors LLC lifted its stake in Relx by 3,040.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 785 shares of the technology company's stock worth $32,000 after purchasing an additional 760 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Relx by 1,823.6% during the 4th quarter. Manchester Capital Management LLC now owns 1,058 shares of the technology company's stock worth $43,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Palladiem LLC acquired a new position in shares of Relx during the 4th quarter worth approximately $44,000. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Relx Stock Up 3.8%

The company has a debt-to-equity ratio of 5.23, a current ratio of 0.45 and a quick ratio of 0.40. The business has a 50-day moving average price of $34.83 and a 200-day moving average price of $34.10.

Relx Cuts Dividend

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

Relx Company Profile

RELX plc is a global information and analytics company that provides data, research, software and professional services to customers in the scientific, technical, medical, legal, business and government sectors. The company serves organizations and professionals that use specialized information to support research, manage risk, make decisions and improve operational performance.

RELX operates through four principal business areas: Risk, Business Services, Legal, and Scientific, Technical & Medical.

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