Relx (NYSE:RELX) Shares Gap Up – Still a Buy?

Relx Plc (NYSE:RELX)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $32.90, but opened at $34.60. Relx shares last traded at $34.73, with a volume of 458,316 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Relx in a research report on Friday, May 8th. Citigroup upgraded shares of Relx from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group assumed coverage on shares of Relx in a research report on Wednesday. They set a “buy” rating for the company. Zacks Research lowered shares of Relx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen lowered shares of Relx from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Relx Price Performance

The firm’s fifty day moving average is $34.14 and its two-hundred day moving average is $36.14. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.49 and a quick ratio of 0.44.

Institutional Investors Weigh In On Relx

A number of institutional investors and hedge funds have recently bought and sold shares of RELX. Capital International Investors lifted its holdings in Relx by 66.7% in the 4th quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock valued at $433,887,000 after acquiring an additional 4,264,474 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Relx by 185.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,252,044 shares of the technology company’s stock valued at $140,955,000 after acquiring an additional 2,763,766 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings 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 acquiring an additional 1,163,189 shares during the last quarter. Millennium Management LLC lifted its holdings in Relx by 251.6% in the 4th quarter. Millennium Management LLC now owns 1,207,191 shares of the technology company’s stock valued at $48,795,000 after acquiring an additional 863,856 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Relx in the 3rd quarter valued at about $39,737,000. 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.