Relx Plc (NYSE:RELX) Sees Significant Drop in Short Interest

Relx Plc (NYSE:RELX) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 2,370,000 shares, a drop of 21.3% from the May 15th total of 3,010,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 967,300 shares, the days-to-cover ratio is currently 2.5 days.

Relx Price Performance

Relx stock traded down $0.43 during mid-day trading on Friday, reaching $45.22. The company’s stock had a trading volume of 693,392 shares, compared to its average volume of 626,803. The firm’s fifty day moving average price is $43.11 and its two-hundred day moving average price is $42.01. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 1.51. Relx has a 12-month low of $31.38 and a 12-month high of $45.92.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Berenberg Bank lowered Relx from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. StockNews.com lowered shares of Relx from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th.

Hedge Funds Weigh In On Relx

A number of large investors have recently modified their holdings of RELX. Heritage Wealth Management LLC purchased a new position in Relx during the fourth quarter worth about $949,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Relx in the fourth quarter worth approximately $16,120,000. Invesco Ltd. raised its stake in Relx by 11.2% in the third quarter. Invesco Ltd. now owns 1,305,950 shares of the technology company’s stock valued at $44,011,000 after purchasing an additional 131,711 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Relx by 700.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,305 shares of the technology company’s stock valued at $52,000 after purchasing an additional 1,142 shares during the last quarter. Finally, Ethic Inc. lifted its position in Relx by 11.2% during the fourth quarter. Ethic Inc. now owns 186,413 shares of the technology company’s stock valued at $7,393,000 after purchasing an additional 18,824 shares during the last quarter. 15.02% of the stock is currently owned by institutional investors.

Relx Company Profile

RELX PLC, together with its subsidiaries, provides information-based analytics and decision tools for professional and business customers in North America, Europe, and internationally. It operates through four segments: Risk; Scientific, Technical & Medical; Legal; and Exhibitions. The Risk segment offers information-based analytics and decision tools that combine public and industry specific content with technology and algorithms to assist clients in evaluating and predicting risk.