Barometer Capital Management Inc. Cuts Stock Holdings in Relx Plc $RELX

Barometer Capital Management Inc. reduced its position in Relx Plc (NYSE:RELX) by 78.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,800 shares of the technology company’s stock after selling 65,600 shares during the period. Barometer Capital Management Inc.’s holdings in Relx were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its position in Relx by 66.7% during the fourth quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock valued at $433,887,000 after buying an additional 4,264,474 shares during the period. Orion Porfolio Solutions LLC raised its position in shares of Relx by 622.0% in the second quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock worth $73,369,000 after acquiring an additional 1,163,189 shares during the period. Millennium Management LLC boosted its stake in shares of Relx by 251.6% during the 4th quarter. Millennium Management LLC now owns 1,207,191 shares of the technology company’s stock worth $48,795,000 after acquiring an additional 863,856 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Relx during the 3rd quarter worth about $39,737,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Relx by 80.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,488,278 shares of the technology company’s stock valued at $60,156,000 after acquiring an additional 664,888 shares during the period. 15.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Relx in a research note on Wednesday, June 3rd. They issued a “buy” rating for the company. Weiss Ratings upgraded Relx from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Citigroup raised Relx from a “neutral” rating to a “buy” rating in a report on Wednesday, April 8th. Wall Street Zen cut Relx from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Morgan Stanley downgraded Relx from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Relx has a consensus rating of “Moderate Buy”.

Relx Price Performance

Shares of NYSE RELX opened at $32.77 on Wednesday. The firm has a 50-day simple moving average of $32.77 and a 200-day simple moving average of $34.33. 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 Plc has a 52 week low of $27.57 and a 52 week high of $54.02.

About Relx

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.