Relx Plc (NYSE:RELX) Short Interest Up 51.6% in August

Relx Plc (NYSE:RELX) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 5,999,228 shares, an increase of 51.6% from the July 30th total of 3,956,270 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 2,463,796 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analyst Weigh In

RELX has been the subject of several research analyst reports. Morgan Stanley lowered Relx from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 7th. Barclays reiterated an “overweight” rating on shares of Relx in a research report on Friday, July 24th. Weiss Ratings raised Relx from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Relx from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, The Goldman Sachs Group initiated coverage on Relx in a report on Wednesday, June 3rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RELX. AQR Capital Management LLC boosted its stake in Relx by 17.1% in the first quarter. AQR Capital Management LLC now owns 63,622 shares of the technology company’s stock valued at $3,207,000 after acquiring an additional 9,287 shares in the last quarter. Millennium Management LLC lifted its stake in Relx by 51.4% in the first quarter. Millennium Management LLC now owns 275,566 shares of the technology company’s stock valued at $13,891,000 after buying an additional 93,610 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Relx by 5.1% in the first quarter. Focus Partners Wealth now owns 10,757 shares of the technology company’s stock valued at $542,000 after acquiring an additional 522 shares during the period. Acadian Asset Management LLC grew its position in shares of Relx by 60.2% during the first quarter. Acadian Asset Management LLC now owns 14,302 shares of the technology company’s stock worth $720,000 after acquiring an additional 5,374 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its holdings in shares of Relx by 57.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,005 shares of the technology company’s stock valued at $381,000 after acquiring an additional 2,568 shares during the period. 15.02% of the stock is owned by institutional investors and hedge funds.

Relx Stock Performance

Relx stock traded down $0.52 during mid-day trading on Wednesday, hitting $35.18. The company had a trading volume of 1,256,604 shares, compared to its average volume of 3,191,141. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 5.23. The company’s fifty day moving average is $34.28 and its 200-day moving average is $33.86. Relx has a 12-month low of $27.57 and a 12-month high of $48.40.

Relx Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 7th will be issued a $0.2785 dividend. The ex-dividend date is Friday, August 7th. This represents a yield of 157.0%.

Relx Company Profile

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.