Short Interest in Relx Plc (NYSE:RELX) Decreases By 32.4%

Relx Plc (NYSE:RELX) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,230,000 shares, a drop of 32.4% from the August 15th total of 1,820,000 shares. Based on an average trading volume of 628,100 shares, the days-to-cover ratio is presently 2.0 days.

A number of analysts recently commented on RELX shares. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Relx in a report on Friday, July 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Relx in a report on Thursday, July 22nd. Credit Suisse Group reaffirmed an “outperform” rating on shares of Relx in a report on Friday, July 30th. Barclays restated an “overweight” rating on shares of Relx in a research report on Friday, July 30th. Finally, Zacks Investment Research cut shares of Relx from a “buy” rating to a “hold” rating in a report on Tuesday, September 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Relx currently has an average rating of “Buy” and an average price target of $34.00.

Relx stock traded down $0.23 during mid-day trading on Monday, reaching $29.99. The stock had a trading volume of 745,838 shares, compared to its average volume of 606,389. The firm has a market capitalization of $57.99 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.59 and a beta of 0.73. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.46 and a current ratio of 0.53. Relx has a fifty-two week low of $19.52 and a fifty-two week high of $30.70. The stock’s 50-day simple moving average is $29.70 and its 200-day simple moving average is $27.44.

The firm also recently announced a dividend, which was paid on Monday, September 13th. Investors of record on Friday, August 6th were given a dividend of $0.3351 per share. This represents a yield of 2.28%. This is a boost from Relx’s previous dividend of $0.17. The ex-dividend date of this dividend was Thursday, August 5th. Relx’s payout ratio is presently 38.24%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Red Door Wealth Management LLC bought a new position in Relx during the 2nd quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in Relx in the second quarter worth about $33,000. Lumature Wealth Partners LLC bought a new stake in shares of Relx during the first quarter valued at approximately $61,000. Proequities Inc. raised its stake in Relx by 14.0% in the first quarter. Proequities Inc. now owns 3,834 shares of the technology company’s stock worth $96,000 after buying an additional 470 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Relx by 421.1% during the second quarter. Bessemer Group Inc. now owns 3,627 shares of the technology company’s stock worth $97,000 after purchasing an additional 2,931 shares in the last quarter. 5.97% of the stock is owned by institutional investors.

About Relx

RELX Plc engages in provision of information and analytics solutions for professional and business customers across industries. It operates through the following business segments: Scientific, Technical & Medical; Risk & Business Analytics; Legal; and Exhibitions. The Scientific, Technical & Medical segment is a global information analytics business that helps institutions and professionals advance healthcare, open science, and improve performance for the benefit of humanity.

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