Ritholtz Wealth Management Trims Stake in Relx Plc $RELX

Ritholtz Wealth Management reduced its stake in Relx Plc (NYSE:RELX) by 17.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,974 shares of the technology company’s stock after selling 26,198 shares during the quarter. Ritholtz Wealth Management’s holdings in Relx were worth $4,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Relx in the fourth quarter worth about $26,000. Cornerstone Planning Group LLC increased its holdings in Relx by 2,574.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 722 shares of the technology company’s stock worth $27,000 after acquiring an additional 695 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in Relx by 3,040.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 785 shares of the technology company’s stock worth $32,000 after acquiring an additional 760 shares during the period. Manchester Capital Management LLC raised its stake in Relx by 1,823.6% during the 4th quarter. Manchester Capital Management LLC now owns 1,058 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,003 shares during the period. Finally, Palladiem LLC purchased a new position in Relx during the fourth quarter valued at approximately $44,000. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of Relx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. The Goldman Sachs Group started coverage on shares of Relx in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Weiss Ratings lowered Relx from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 15th. Citigroup raised Relx from a “neutral” rating to a “buy” rating in a report on Wednesday, April 8th. Finally, Morgan Stanley downgraded Relx from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 7th. One research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Relx Trading Down 0.7%

Relx stock opened at $30.92 on Friday. Relx Plc has a 1 year low of $27.57 and a 1 year high of $54.37. The firm’s 50 day moving average price is $33.89 and its 200-day moving average price is $35.36. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.38.

Relx Profile

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.