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

Relx Plc (NYSE:RELX)’s share price gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

RELX has been the topic of several recent research reports. Morgan Stanley cut Relx from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 7th. Wall Street Zen cut Relx from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research cut Relx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Citigroup upgraded Relx from a “neutral” rating to a “buy” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Relx in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Relx Trading Up 5.5%

The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.38. The stock has a 50-day moving average price of $34.04 and a 200 day moving average price of $36.20.

Institutional Investors Weigh In On Relx

Hedge funds have recently modified their holdings of the business. Huntington National Bank grew its holdings in Relx by 5.1% in the 3rd quarter. Huntington National Bank now owns 5,150 shares of the technology company’s stock valued at $246,000 after buying an additional 250 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in Relx by 2.5% in the 4th quarter. Bridgewater Advisors Inc. now owns 11,084 shares of the technology company’s stock valued at $447,000 after buying an additional 267 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Relx by 7.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,007 shares of the technology company’s stock valued at $218,000 after buying an additional 275 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in Relx by 5.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,511 shares of the technology company’s stock valued at $223,000 after buying an additional 281 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in Relx by 23.0% in the 3rd quarter. Horizon Investments LLC now owns 1,517 shares of the technology company’s stock valued at $72,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 15.02% of the company’s stock.

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.