Relx (NYSE:RELX) Shares Gap Down – Here’s What Happened

Relx Plc (NYSE:RELX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $35.72, but opened at $34.00. Relx shares last traded at $34.1660, with a volume of 329,097 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RELX. TD Cowen began coverage on Relx in a research note on Thursday, September 10th. They set a “buy” rating for the company. The Goldman Sachs Group initiated coverage on shares of Relx in a report on Wednesday, June 3rd. They issued a “buy” rating on the stock. TD Securities upgraded shares of Relx to a “strong-buy” rating in a report on Friday, September 11th. Weiss Ratings upgraded shares of Relx from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Barclays reaffirmed an “overweight” rating on shares of Relx in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Relx Price Performance

The business has a 50 day simple moving average of $34.97 and a 200 day simple moving average of $34.15. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 5.23.

Relx Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 7th were paid a dividend of $0.2785 per share. This represents a yield of 157.0%. The ex-dividend date was Friday, August 7th.

Institutional Trading of Relx

A number of hedge funds have recently modified their holdings of the stock. Capital International Investors grew its holdings in Relx by 66.7% in the fourth quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock valued at $433,887,000 after purchasing an additional 4,264,474 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Relx by 185.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,252,044 shares of the technology company’s stock worth $140,955,000 after buying an additional 2,763,766 shares during the period. Bank of America Corp DE lifted its position in shares of Relx by 14.3% during the 1st quarter. Bank of America Corp DE now owns 4,180,034 shares of the technology company’s stock valued at $138,568,000 after buying an additional 522,619 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Relx by 12.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,040,217 shares of the technology company’s stock valued at $100,783,000 after buying an additional 328,282 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Relx by 12.1% during the 1st quarter. Royal Bank of Canada now owns 1,736,295 shares of the technology company’s stock valued at $57,558,000 after buying an additional 187,132 shares in the last quarter. Hedge funds and other institutional investors own 15.02% of the company’s stock.

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.