Relx (NYSE:RELX) Shares Gap Down – Time to Sell?

Relx Plc (NYSE:RELX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $35.72, but opened at $34.00. Relx shares last traded at $34.1660, with a volume of 329,097 shares changing hands.

Analysts Set New Price Targets

RELX has been the subject of several analyst reports. TD Securities upgraded Relx to a “strong-buy” rating in a report on Friday. The Goldman Sachs Group began coverage on shares of Relx in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. TD Cowen started coverage on shares of Relx in a research note on Thursday, September 10th. They set a “buy” rating for the company. Barclays restated an “overweight” rating on shares of Relx in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Relx from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Relx Stock Down 3.9%

The company has a debt-to-equity ratio of 5.23, a current ratio of 0.45 and a quick ratio of 0.40. The company’s 50 day simple moving average is $34.90 and its 200-day simple moving average is $34.13.

Relx Cuts Dividend

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

Institutional Trading of Relx

Several hedge funds and other institutional investors have recently bought and sold shares of RELX. Capital International Investors increased its stake in Relx by 66.7% during the 4th quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock worth $433,887,000 after buying an additional 4,264,474 shares during the period. 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 worth $140,955,000 after buying an additional 2,763,766 shares in the last quarter. Bank of America Corp DE boosted its position in Relx by 14.3% in the 1st 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 during the last quarter. Lazard Asset Management LLC boosted its position in Relx by 12.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,040,217 shares of the technology company’s stock valued at $100,783,000 after buying an additional 328,282 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Relx by 11.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,684,028 shares of the technology company’s stock valued at $68,068,000 after acquiring an additional 179,677 shares in the last quarter. Institutional investors own 15.02% of the company’s stock.

About Relx

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.