come the tax selling season in October. There may be a bounce next week if the shorts cover. Today's Investors Business Daily had articles concerning funds on the front page of the 2nd section. For the 2nd quarter, micro cap funds were up 22%, small caps were up 15.6%, mid-caps were up 12.5% and all other domestic funds were up less than 10%. New money is looking for value in the micro caps. JLL has a book value of $10.22, price/book of 2.16, negative earnings and a fairly high debt load debt/equity of 0.94 By comparison, micro cap CMDL for example has a b.v. of $7.16, a p/b of 1.05 and a p/e of 4.34. Hundreds of other micro caps have similar valuations (with over 5000 micro caps to choose from). Putting new money into JLL even with today's haircut isn't too promising.
I am sorry to say that this company has nowhere to go but down. They are struggling mightly to absorb JLW and the results will be continued losses or low earnings. There is no way this company should trade at a high P/E. It looks like a $12 stock for the next year until they right the ship.
There is still great selling pressure from all those new JLW share holders who will start selling at the end of this year.
Yeah, but there doesn't appear to be any news on WHY.
A couple of 20k+ blocks appear to have changed hands earlier today and there's not normally a lot of activity, so some drop would be expected. BUT, Multex ACE reports from 7/3 don't show any projected earnings or ratings changes, so what's the rationale?
I notice you gentlemen have had the wisdom of the industry and are favorable to JLL. I, among others, have recently been disturbed by the recent loss of the investment in LaSalle through maximum contribution to the ESPP. What is your analysis of the condition and regarding the recovery of the JLL stock, what can be expected? Us underlings look for comfort, but give it to us straight, please.