Connor Clark & Lunn Investment Management Ltd. Acquires 286,005 Shares of Relx Plc $RELX

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Relx Plc (NYSE:RELX) by 72.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 679,541 shares of the technology company’s stock after purchasing an additional 286,005 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Relx were worth $32,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Porfolio Solutions LLC lifted its holdings in shares of Relx by 622.0% during the second quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock valued at $73,369,000 after purchasing an additional 1,163,189 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of Relx in the 3rd quarter worth approximately $20,570,000. Ameriprise Financial Inc. increased its position in Relx by 10.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,344,134 shares of the technology company’s stock valued at $181,569,000 after buying an additional 303,002 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Relx by 7.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,446,125 shares of the technology company’s stock valued at $164,575,000 after buying an additional 252,390 shares in the last quarter. Finally, Causeway Capital Management LLC raised its stake in Relx by 49.8% during the third quarter. Causeway Capital Management LLC now owns 723,161 shares of the technology company’s stock valued at $34,538,000 after buying an additional 240,316 shares during the last quarter. Institutional investors own 15.02% of the company’s stock.

Relx Price Performance

Shares of RELX opened at $34.19 on Friday. The business’s fifty day simple moving average is $35.69 and its two-hundred day simple moving average is $40.99. Relx Plc has a 12 month low of $27.57 and a 12 month high of $56.33. 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 (NYSE:RELX) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.42). The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $6.70 billion. On average, equities analysts expect that Relx Plc will post 1.68 earnings per share for the current year.

Relx Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Friday, May 8th will be given a $0.6559 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a yield of 422.0%.

Wall Street Analyst Weigh In

Several research firms have commented on RELX. Morgan Stanley reissued an “overweight” rating on shares of Relx in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft raised Relx from a “hold” rating to a “buy” rating in a research report on Tuesday, December 9th. Citigroup began coverage on shares of Relx in a research note on Monday, January 12th. They issued a “neutral” rating on the stock. Wall Street Zen downgraded shares of Relx from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Zacks Research lowered shares of Relx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Relx Company 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.