Key Points
- Major shareholder Charles Jobson bought 2,825 Joint shares at an average price of $6.65, spending about $18,786; his stake rose to approximately 20.32 million shares.
- Joint reported quarterly earnings of $0.10 per share, beating the $0.08 consensus estimate, but revenue of $13.55 million fell short of analysts’ $14.85 million forecast.
- Analyst sentiment is cautious: the stock has a consensus “Reduce” rating and an $8 price target. Shares rose 3.7% to $6.94 on Friday.
The Joint Corp. (NASDAQ:JYNT - Get Free Report) major shareholder Charles Jobson acquired 2,825 shares of the firm's stock in a transaction dated Tuesday, November 10th. The stock was bought at an average price of $6.65 per share, for a total transaction of $18,786.25. Following the acquisition, the insider owned 20,322,974 shares of the company's stock, valued at approximately $135,147,777.10. This trade represents a 0.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Joint Stock Up 3.7%
Shares of JYNT traded up $0.25 during trading hours on Friday, hitting $6.94. The company had a trading volume of 61,872 shares, compared to its average volume of 68,036. The Joint Corp. has a 52-week low of $6.52 and a 52-week high of $10.67. The stock's 50 day moving average price is $7.51 and its 200 day moving average price is $8.45. The firm has a market cap of $95.00 million, a P/E ratio of 34.70 and a beta of 1.16.
Joint (NASDAQ:JYNT - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $13.55 million during the quarter, compared to analysts' expectations of $14.85 million. Joint had a return on equity of 22.11% and a net margin of 4.81%. On average, research analysts expect that The Joint Corp. will post 0.31 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Wall Street Zen cut Joint from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings raised Joint from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. Finally, B. Riley Financial cut their target price on shares of Joint from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, November 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Joint currently has a consensus rating of "Reduce" and a consensus price target of $8.00.
View Our Latest Report on Joint
Institutional Investors Weigh In On Joint
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Joint in the 2nd quarter valued at approximately $2,534,000. Marshall Wace LLP boosted its position in shares of Joint by 372.2% during the third quarter. Marshall Wace LLP now owns 251,089 shares of the company's stock valued at $1,858,000 after purchasing an additional 197,916 shares in the last quarter. Skylands Capital LLC boosted its position in shares of Joint by 5.6% during the third quarter. Skylands Capital LLC now owns 946,045 shares of the company's stock valued at $7,001,000 after purchasing an additional 50,473 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in Joint in the second quarter worth $19,059,000. Finally, Dimensional Fund Advisors LP grew its stake in Joint by 37.4% in the first quarter. Dimensional Fund Advisors LP now owns 153,754 shares of the company's stock worth $1,361,000 after purchasing an additional 41,842 shares during the period. Hedge funds and other institutional investors own 76.88% of the company's stock.
Joint Company Profile
(
Get Free Report)
The Joint Corp. operates and franchises The Joint Chiropractic, a network of clinics providing chiropractic care in the United States. Its clinics offer services such as spinal adjustments and other chiropractic treatments focused on musculoskeletal health and wellness. The company's business model emphasizes convenient access to care, with options that include walk-in visits and recurring membership plans. The Joint Corp. was established in 2010 and is headquartered in Scottsdale, Arizona.
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