Jones Lang LaSalle Inc (NYSE:JLL) Sees Large Growth in Short Interest

Jones Lang LaSalle Inc (NYSE:JLL) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,747,800 shares, an increase of 8.7% from the May 15th total of 1,607,600 shares. Based on an average daily trading volume, of 330,000 shares, the short-interest ratio is currently 5.3 days. Approximately 3.9% of the company’s stock are sold short.

Shares of JLL traded up $0.52 during midday trading on Friday, reaching $140.71. 214,024 shares of the stock were exchanged, compared to its average volume of 509,868. The firm has a 50-day simple moving average of $135.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 2.01. Jones Lang LaSalle has a twelve month low of $119.79 and a twelve month high of $174.42. The stock has a market cap of $6.44 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.74.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.20. Jones Lang LaSalle had a return on equity of 15.36% and a net margin of 2.81%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company posted $0.97 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Jones Lang LaSalle will post 11.85 earnings per share for the current year.

A number of analysts have weighed in on the company. Barclays set a €45.00 ($52.33) price target on Zalando and gave the company a “buy” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods cut Jones Lang LaSalle from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 17th. Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of SUZUKI MTR CORP/ADR in a research report on Wednesday. Finally, Compass Point began coverage on Jones Lang LaSalle in a research report on Wednesday, July 10th. They set a “buy” rating and a $180.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $173.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JLL. Vanguard Group Inc grew its holdings in shares of Jones Lang LaSalle by 6.6% during the third quarter. Vanguard Group Inc now owns 6,964,895 shares of the financial services provider’s stock worth $1,005,173,000 after buying an additional 432,487 shares during the last quarter. Norges Bank purchased a new position in shares of Jones Lang LaSalle during the fourth quarter worth about $51,273,000. APG Asset Management N.V. grew its holdings in shares of Jones Lang LaSalle by 29.7% during the fourth quarter. APG Asset Management N.V. now owns 963,400 shares of the financial services provider’s stock worth $106,693,000 after buying an additional 220,600 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Jones Lang LaSalle by 136.5% during the fourth quarter. Van ECK Associates Corp now owns 327,888 shares of the financial services provider’s stock worth $41,511,000 after buying an additional 189,218 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Jones Lang LaSalle by 149.3% during the first quarter. Nordea Investment Management AB now owns 287,715 shares of the financial services provider’s stock worth $44,359,000 after buying an additional 172,284 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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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