Narwhal Capital Management Makes New $6.79 Million Investment in Relx Plc $RELX

Narwhal Capital Management acquired a new stake in Relx Plc (NYSE:RELX) in the 2nd quarter, HoldingsChannel reports. The fund acquired 124,920 shares of the technology company’s stock, valued at approximately $6,788,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bleakley Financial Group LLC increased its holdings in shares of Relx by 1.5% in the 1st quarter. Bleakley Financial Group LLC now owns 14,147 shares of the technology company’s stock valued at $713,000 after acquiring an additional 207 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Relx by 1.0% in the 2nd quarter. Venturi Wealth Management LLC now owns 24,476 shares of the technology company’s stock valued at $1,330,000 after acquiring an additional 232 shares during the period. Cynosure Group LLC increased its holdings in shares of Relx by 3.5% in the 1st quarter. Cynosure Group LLC now owns 6,951 shares of the technology company’s stock valued at $350,000 after acquiring an additional 236 shares during the period. Bridgewater Advisors Inc. increased its holdings in shares of Relx by 2.1% in the 1st quarter. Bridgewater Advisors Inc. now owns 11,463 shares of the technology company’s stock valued at $617,000 after acquiring an additional 238 shares during the period. Finally, Marks Group Wealth Management Inc increased its holdings in shares of Relx by 1.0% in the 2nd quarter. Marks Group Wealth Management Inc now owns 23,789 shares of the technology company’s stock valued at $1,293,000 after acquiring an additional 243 shares during the period. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Kepler Capital Markets raised shares of Relx from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 18th. Barclays reaffirmed an “overweight” rating on shares of Relx in a report on Tuesday. Wall Street Zen cut shares of Relx from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Morgan Stanley reiterated an “overweight” rating on shares of Relx in a research report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Relx in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, Relx currently has a consensus rating of “Buy”.

Relx Price Performance

Relx stock opened at $45.84 on Thursday. Relx Plc has a 52 week low of $44.19 and a 52 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. The firm’s 50-day simple moving average is $47.49 and its 200 day simple moving average is $50.87. The firm has a market capitalization of $84.01 billion, a PE ratio of 24.65, a P/E/G ratio of 2.96 and a beta of 0.87.

Relx Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 8th were paid a $0.2634 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a yield of 170.0%. Relx’s payout ratio is presently 28.49%.

About Relx

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.