Cinctive Capital Management LP Invests $5.95 Million in Jones Lang LaSalle Incorporated (NYSE:JLL)

Cinctive Capital Management LP bought a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 22,060 shares of the financial services provider’s stock, valued at approximately $5,952,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bamco Inc. NY increased its position in Jones Lang LaSalle by 28.3% during the third quarter. Bamco Inc. NY now owns 314,710 shares of the financial services provider’s stock valued at $84,912,000 after acquiring an additional 69,380 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Jones Lang LaSalle during the 3rd quarter valued at about $4,231,000. Edgestream Partners L.P. bought a new position in shares of Jones Lang LaSalle in the 3rd quarter worth approximately $1,186,000. Walleye Capital LLC boosted its holdings in shares of Jones Lang LaSalle by 603.1% in the third quarter. Walleye Capital LLC now owns 13,739 shares of the financial services provider’s stock worth $3,707,000 after buying an additional 11,785 shares during the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in Jones Lang LaSalle during the third quarter valued at approximately $189,000. 94.80% of the stock is owned by institutional investors.

Jones Lang LaSalle Price Performance

NYSE:JLL opened at $280.60 on Monday. The business’s 50-day simple moving average is $267.69 and its two-hundred day simple moving average is $240.83. Jones Lang LaSalle Incorporated has a 52 week low of $154.43 and a 52 week high of $288.50. The stock has a market cap of $13.31 billion, a PE ratio of 28.37 and a beta of 1.37. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.83. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter last year, the company earned $2.01 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts forecast that Jones Lang LaSalle Incorporated will post 13.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JLL shares. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Wolfe Research upgraded Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price on the stock in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upped their price target on Jones Lang LaSalle from $280.00 to $292.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Jones Lang LaSalle has a consensus rating of “Buy” and an average price target of $271.50.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.