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

Relx Plc (NYSE:RELX) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,700,000 shares, a decrease of 27.4% from the August 15th total of 2,340,000 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 656,500 shares, the days-to-cover ratio is currently 2.6 days.

Relx Trading Up 0.7 %

Shares of NYSE RELX traded up $0.34 during midday trading on Monday, reaching $48.05. 296,901 shares of the company were exchanged, compared to its average volume of 869,337. The stock’s 50-day moving average price is $46.05 and its 200-day moving average price is $44.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.47 and a current ratio of 0.52. Relx has a one year low of $33.13 and a one year high of $48.11.

Relx Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.234 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a dividend yield of 1.6%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Relx from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

Hedge Funds Weigh In On Relx

Large investors have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC purchased a new position in Relx in the 4th quarter valued at approximately $35,000. Financial Management Professionals Inc. raised its position in Relx by 192.9% in the 1st quarter. Financial Management Professionals Inc. now owns 867 shares of the technology company’s stock worth $38,000 after purchasing an additional 571 shares during the period. Timber Creek Capital Management LLC bought a new position in shares of Relx in the first quarter worth approximately $43,000. Pinnacle Bancorp Inc. lifted its position in Relx by 90.9% during the first quarter. Pinnacle Bancorp Inc. now owns 983 shares of the technology company’s stock valued at $43,000 after purchasing an additional 468 shares during the period. Finally, Indiana Trust & Investment Management CO purchased a new stake in Relx during the second quarter valued at approximately $52,000. Institutional investors own 15.02% of the company’s stock.

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.