Relx (NYSE:RELX) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Relx (NYSE:RELX – Free Report) from a buy rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

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

View Our Latest Report on RELX

Relx Trading Down 4.2%

RELX stock opened at $34.22 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 5.23. Relx has a 12 month low of $27.57 and a 12 month high of $48.40. The firm has a 50-day moving average of $34.93 and a two-hundred day moving average of $34.15.

Relx Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 7th were issued a $0.2785 dividend. This represents a yield of 157.0%. The ex-dividend date was Friday, August 7th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in Relx by 12.1% during the first quarter. Lazard Asset Management LLC now owns 3,040,217 shares of the technology company’s stock worth $100,783,000 after purchasing an additional 328,282 shares during the last quarter. Bank of America Corp DE increased its position in shares of Relx by 14.3% in the first 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. Allspring Global Investments Holdings LLC raised its stake in shares of Relx by 697.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 159,681 shares of the technology company’s stock worth $5,306,000 after buying an additional 139,663 shares during the last quarter. 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 last quarter. Finally, Evelyn Partners Asset Management Ltd boosted its position in shares of Relx by 53.6% in the 1st quarter. Evelyn Partners Asset Management Ltd now owns 157,612 shares of the technology company’s stock worth $5,225,000 after buying an additional 55,028 shares in the last quarter. 15.02% of the stock is currently owned by institutional investors and hedge funds.

About Relx

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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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