As one would reasonably expect, specific money managers were leading the bulls’ herd. PDT Partners, managed by Peter Muller, assembled the most outsized position in Jones Lang LaSalle Inc (NYSE:JLL). PDT Partners had $6.3 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $4.8 million investment in the stock during the quarter. The following funds were also among the new JLL investors: Lawrence Sapanski’s Scoria Capital, Mike Vranos’s Ellington, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Jones Lang LaSalle Inc (NYSE:JLL) but similarly valued. We will take a look at Omega Healthcare Investors Inc (NYSE:OHI), Camden Property Trust (NYSE:CPT), Fomento Economico Mexicano SAB (ADR) (NYSE:FMX), and Crown Holdings, Inc. (NYSE:CCK). All of these stocks’ market caps match JLL’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 19.5 hedge funds with bullish positions and the average amount invested in these stocks was $281 million. That figure was $515 million in JLL’s case. Crown Holdings, Inc. (NYSE:CCK) is the most popular stock in this table. On the other hand Omega Healthcare Investors Inc (NYSE:OHI) is the least popular one with only 14 bullish hedge fund positions. Jones Lang LaSalle Inc (NYSE:JLL) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CCK might be a better candidate to consider a long position.