Freedom Investment Management Inc. Lowers Stock Position in Relx Plc $RELX

Freedom Investment Management Inc. lessened its stake in shares of Relx Plc (NYSE:RELX) by 16.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,530 shares of the technology company’s stock after selling 3,728 shares during the quarter. Freedom Investment Management Inc.’s holdings in Relx were worth $1,061,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in Relx by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,072,342 shares of the technology company’s stock worth $205,287,000 after buying an additional 173,976 shares during the period. Ameriprise Financial Inc. boosted its stake in Relx by 8.3% during the first quarter. Ameriprise Financial Inc. now owns 3,041,132 shares of the technology company’s stock worth $154,129,000 after buying an additional 234,094 shares during the period. Northern Trust Corp boosted its stake in Relx by 9.2% during the first quarter. Northern Trust Corp now owns 2,394,097 shares of the technology company’s stock worth $120,686,000 after buying an additional 202,509 shares during the period. Natixis Advisors LLC boosted its stake in Relx by 0.5% during the first quarter. Natixis Advisors LLC now owns 1,208,467 shares of the technology company’s stock worth $60,919,000 after buying an additional 5,875 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Relx by 103.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,360 shares of the technology company’s stock valued at $22,400,000 after purchasing an additional 225,947 shares during the period. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RELX. Wall Street Zen lowered shares of Relx from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Relx in a research note on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating on shares of Relx in a research note on Thursday, September 11th. Barclays reissued an “overweight” rating on shares of Relx in a research note on Tuesday, October 7th. Finally, Kepler Capital Markets raised shares of Relx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Relx Stock Down 1.9%

Shares of NYSE:RELX opened at $45.89 on Friday. The firm’s 50 day moving average price is $46.65 and its 200 day moving average price is $50.55. The stock has a market cap of $83.86 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87. Relx Plc has a fifty-two week low of $44.19 and a fifty-two week high of $56.33. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 2.55.

Relx Profile

RELX Plc engages in provision of information and analytics solutions for professional and business customers across industries. It operates through the following business segments: Scientific, Technical & Medical; Risk & Business Analytics; Legal; and Exhibitions. The Scientific, Technical & Medical segment is a global information analytics business that helps institutions and professionals advance healthcare, open science, and improve performance for the benefit of humanity.