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

Relx Plc (NYSE:RELX) was the target of a significant decrease in short interest in 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. Based on an average trading volume of 656,500 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Relx Trading Up 0.7 %

Shares of NYSE RELX traded up $0.34 during mid-day trading on Monday, reaching $48.05. The company had a trading volume of 296,901 shares, compared to its average volume of 869,337. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.47 and a current ratio of 0.52. The company has a 50-day moving average price of $46.05 and a two-hundred day moving average price of $44.44. Relx has a 1-year low of $33.13 and a 1-year high of $48.11.

Relx Cuts Dividend

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

Institutional Trading of Relx

A number of institutional investors and hedge funds have recently made changes to their positions in RELX. Frazier Financial Advisors LLC bought a new stake in shares of Relx in the 4th quarter valued at approximately $35,000. Financial Management Professionals Inc. lifted its holdings in Relx by 192.9% during the 1st quarter. Financial Management Professionals Inc. now owns 867 shares of the technology company’s stock worth $38,000 after buying an additional 571 shares in the last quarter. Timber Creek Capital Management LLC acquired a new position in Relx during the 1st quarter worth $43,000. Pinnacle Bancorp Inc. lifted its holdings in Relx by 90.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 983 shares of the technology company’s stock worth $43,000 after buying an additional 468 shares in the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in Relx during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

About Relx

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.