Jones Lang LaSalle Inc (NYSE:JLL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,240,000 shares, an increase of 19.1% from the August 15th total of 1,880,000 shares. Based on an average trading volume of 355,000 shares, the short-interest ratio is presently 6.3 days. Currently, 4.4% of the company’s shares are short sold.
A number of hedge funds and other institutional investors have recently made changes to their positions in JLL. APG Asset Management N.V. raised its stake in shares of Jones Lang LaSalle by 232.7% during the first quarter. APG Asset Management N.V. now owns 946,700 shares of the financial services provider’s stock valued at $129,993,000 after acquiring an additional 662,119 shares in the last quarter. FMR LLC increased its holdings in Jones Lang LaSalle by 41.8% during the second quarter. FMR LLC now owns 2,170,728 shares of the financial services provider’s stock valued at $224,583,000 after buying an additional 640,421 shares during the period. Nordea Investment Management AB increased its holdings in Jones Lang LaSalle by 76.3% during the second quarter. Nordea Investment Management AB now owns 992,198 shares of the financial services provider’s stock valued at $100,698,000 after buying an additional 429,402 shares during the period. Davis Capital Partners LLC purchased a new position in Jones Lang LaSalle during the second quarter valued at approximately $25,865,000. Finally, Wellington Management Group LLP increased its holdings in Jones Lang LaSalle by 67.0% during the first quarter. Wellington Management Group LLP now owns 313,009 shares of the financial services provider’s stock valued at $31,608,000 after buying an additional 125,561 shares during the period. 94.41% of the stock is owned by institutional investors and hedge funds.
NYSE JLL traded down $0.07 during trading on Wednesday, hitting $106.93. The stock had a trading volume of 387,007 shares, compared to its average volume of 422,625. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.93 and a beta of 1.56. Jones Lang LaSalle has a one year low of $78.29 and a one year high of $178.55. The stock has a 50 day simple moving average of $100.31 and a 200 day simple moving average of $105.43.
Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.32). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.98 billion. Jones Lang LaSalle had a return on equity of 11.47% and a net margin of 2.40%. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.94 EPS. On average, sell-side analysts predict that Jones Lang LaSalle will post 5.79 EPS for the current year.
A number of research analysts recently commented on the stock. Raymond James lowered their price target on shares of Jones Lang LaSalle from $172.00 to $146.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. UBS Group increased their price target on shares of Jones Lang LaSalle from $119.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Jones Lang LaSalle presently has an average rating of “Hold” and an average price target of $150.80.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.
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