Relx (NYSE:RELX) Shares Gap Up – Here’s Why

Relx Plc (NYSE:RELX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $29.78, but opened at $31.15. Relx shares last traded at $30.3860, with a volume of 5,603,200 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on RELX. Morgan Stanley restated an “overweight” rating on shares of Relx in a research report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Relx from a “hold” rating to a “buy” rating in a report on Tuesday, December 9th. Citigroup initiated coverage on Relx in a report on Monday, January 12th. They set a “neutral” rating for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Relx in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Relx from a “hold” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Relx has an average rating of “Buy”.

Relx Trading Down 2.3%

The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 2.55. The stock has a fifty day moving average price of $39.57 and a two-hundred day moving average price of $43.92.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC grew its position in Relx by 622.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock valued at $73,369,000 after buying an additional 1,163,189 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Relx in the 3rd quarter worth approximately $39,737,000. Optiver Holding B.V. acquired a new stake in shares of Relx in the 3rd quarter worth approximately $20,570,000. ABC Arbitrage SA boosted its holdings in shares of Relx by 188.9% in the second quarter. ABC Arbitrage SA now owns 560,958 shares of the technology company’s stock valued at $30,482,000 after acquiring an additional 366,761 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Relx by 10.0% during the second quarter. Ameriprise Financial Inc. now owns 3,344,134 shares of the technology company’s stock valued at $181,569,000 after acquiring an additional 303,002 shares during the period. 15.02% of the stock is owned by institutional investors and hedge funds.

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.