Relx Shares Gap up After TD Securities Upgrade
Relx shares opened higher following a strong-buy rating from TD Securities, extending a trend of positive analyst sentiment.
Relx Plc (NYSE:RELX) shares gapped up before the open on Monday, trading as high as $35.67 after the previous close of $33.80. The move followed TD Securities upgrading the stock to a strong-buy rating. At the time of reporting, shares traded at $35.26 with a volume of 499,543 units.
This action aligns with a broader consensus shift. According to MarketBeat data, two analysts currently rate the stock Strong Buy, five rate it Buy, and three rate it Hold, resulting in an aggregate Moderate Buy consensus. The recent upgrade reinforces the positive momentum observed in the company's trading profile.
Recent Analyst Actions
Several other brokerages have recently weighed in on Relx. Goldman Sachs initiated coverage with a buy rating on June 3. Weiss Ratings slightly improved its stance from hold (c-) to hold (c) on August 7. Wall Street Zen upgraded its rating from hold to buy on September 5, while Barclays reiterated an overweight stance on July 24. TD Cowen also started coverage with a buy rating recently.
Institutional Positioning Shifts
Hedge funds have adjusted their holdings in Relx recently. Whipplewood Advisors increased its stake by 2,468.4% in the first quarter, adding 938 shares to a total of 976. Transamerica Financial Advisors boosted its position by 3,040.0% in the fourth quarter, ending with 785 shares. Manchester Capital Management raised its holdings by 1,823.6% in Q4, acquiring 1,003 additional shares.
New positions were also established. Annis Gardner Whiting Capital Advisors purchased a stake valued at approximately $26,000 in Q4, and Palladiem LLC acquired a position worth about $44,000 during the same period. Institutional investors and hedge funds currently own 15.02% of the company's outstanding stock, indicating a stable but evolving ownership base.
Financial Metrics and Dividend
Relx reports a debt-to-equity ratio of 5.23, with a current ratio of 0.45 and a quick ratio of 0.40. Technical indicators show a 50-day moving average of $34.83 and a 200-day moving average of $34.10. The company is set to pay a dividend of $0.2785 per share on September 15 to shareholders of record as of August 7.
