Relx (NYSE:RELX) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Relx (NYSE:RELX) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Barclays reiterated an “overweight” rating on shares of Relx in a research note on Friday, July 24th. TD Cowen started coverage on Relx in a research note on Thursday. They issued a “buy” rating for the company. Weiss Ratings upgraded Relx from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. TD Securities raised Relx to a “strong-buy” rating in a research report on Friday. Finally, The Goldman Sachs Group initiated coverage on Relx in a report on Wednesday, June 3rd. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, five 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 an average rating of “Moderate Buy”.

Relx Trading Down 0.1%

RELX opened at $33.76 on Friday. The company has a debt-to-equity ratio of 5.23, a quick ratio of 0.40 and a current ratio of 0.45. Relx has a fifty-two week low of $27.57 and a fifty-two week high of $48.40. The company’s 50-day moving average is $34.83 and its 200 day moving average is $34.10.

Relx Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 7th will be given a dividend of $0.2785 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a dividend yield of 157.0%.

Hedge Funds Weigh In On Relx

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its position in shares of Relx by 26.3% during the second quarter. Tidal Investments LLC now owns 17,289 shares of the technology company’s stock valued at $548,000 after acquiring an additional 3,598 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Relx during the second quarter worth $77,000. Squarepoint Ops LLC bought a new stake in Relx during the second quarter worth $527,000. Plan A Wealth LLC boosted its position in Relx by 19.3% in the second quarter. Plan A Wealth LLC now owns 14,168 shares of the technology company’s stock worth $449,000 after purchasing an additional 2,292 shares during the last quarter. Finally, Syon Capital LLC boosted its position in Relx by 22.5% in the second quarter. Syon Capital LLC now owns 16,920 shares of the technology company’s stock worth $536,000 after purchasing an additional 3,107 shares during the last quarter. Hedge funds and other institutional investors own 15.02% of the company’s stock.

About Relx

RELX plc is a global information and analytics company that provides data, research, software and professional services to customers in the scientific, technical, medical, legal, business and government sectors. The company serves organizations and professionals that use specialized information to support research, manage risk, make decisions and improve operational performance.

RELX operates through four principal business areas: Risk, Business Services, Legal, and Scientific, Technical & Medical.