Key Points
- Major shareholder Charles Jobson bought 236,116 shares at an average $6.65 each, spending about $1.57 million and increasing his stake by 13.16% to roughly 2.03 million shares.
- The Joint reported quarterly EPS of $0.10, topping the $0.08 consensus estimate, while revenue of $13.55 million fell short of analysts’ $14.85 million forecast.
- Analyst sentiment is cautious: the consensus rating is “Reduce” with an $8 price target, after B. Riley cut its target from $9 and maintained a neutral rating.
The Joint Corp. (NASDAQ:JYNT - Get Free Report) major shareholder Charles Jobson bought 236,116 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average price of $6.65 per share, for a total transaction of $1,570,171.40. Following the completion of the purchase, the insider directly owned 2,030,149 shares of the company's stock, valued at approximately $13,500,490.85. This trade represents a 13.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Joint Stock Down 1.6%
Shares of NASDAQ:JYNT opened at $6.69 on Friday. The Joint Corp. has a fifty-two week low of $6.52 and a fifty-two week high of $10.67. The firm's 50 day moving average price is $7.53 and its 200 day moving average price is $8.47. The stock has a market cap of $91.59 million, a price-to-earnings ratio of 29.57 and a beta of 1.16.
Joint (NASDAQ:JYNT - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Joint had a net margin of 4.81% and a return on equity of 22.11%. The company had revenue of $13.55 million during the quarter, compared to analysts' expectations of $14.85 million. On average, equities analysts anticipate that The Joint Corp. will post 0.31 EPS for the current year.
Institutional Trading of Joint
Several institutional investors have recently modified their holdings of the stock. Grandeur Peak Global Advisors LLC acquired a new position in shares of Joint in the 2nd quarter valued at $19,059,000. Skylands Capital LLC grew its position in shares of Joint by 5.6% in the 3rd quarter. Skylands Capital LLC now owns 946,045 shares of the company's stock valued at $7,001,000 after buying an additional 50,473 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Joint in the 2nd quarter valued at $2,534,000. Dimensional Fund Advisors LP raised its stake in Joint by 37.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 153,754 shares of the company's stock worth $1,361,000 after acquiring an additional 41,842 shares in the last quarter. Finally, Verus Capital Partners LLC raised its stake in Joint by 23.6% during the 1st quarter. Verus Capital Partners LLC now owns 130,705 shares of the company's stock worth $1,157,000 after acquiring an additional 24,929 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company's stock.
Analysts Set New Price Targets
JYNT has been the subject of several recent analyst reports. B. Riley Financial decreased their price objective on shares of Joint from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Monday. Weiss Ratings raised Joint from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday. Finally, Wall Street Zen cut Joint from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 16th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $8.00.
Read Our Latest Stock Report on JYNT
Joint Company Profile
(
Get Free Report)
The Joint Corp. (NASDAQ: JYNT) is a healthcare services company that operates The Joint Chiropractic, a network of chiropractic clinics in the United States. The company focuses on providing routine chiropractic care intended to support musculoskeletal health, mobility and general wellness. The Joint Chiropractic clinics offer services such as chiropractic adjustments and related wellness care. The business model is designed to provide convenient, accessible care through walk-in visits, membership plans and prepaid packages, with an emphasis on transparent pricing and extended operating hours.
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