Joint (NASDAQ:JYNT) Major Shareholder Buys 236,116 Shares of Company Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson acquired 236,116 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $6.65 per share, with a total value of $1,570,171.40. Following the acquisition, the insider 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Joint Trading Down 1.6%

JYNT stock traded down $0.11 during trading hours on Thursday, hitting $6.69. 59,150 shares of the stock traded hands, compared to its average volume of 80,984. The stock has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $8.48. The Joint Corp. has a one year low of $6.52 and a one year high of $10.67. The company has a market cap of $91.59 million, a P/E ratio of 33.45 and a beta of 1.16.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Joint had a return on equity of 22.11% and a net margin of 4.81%. The firm had revenue of $13.55 million for the quarter, compared to analyst estimates of $14.85 million. Analysts forecast that The Joint Corp. will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Joint

Several large investors have recently modified their holdings of the stock. R Squared Ltd grew its holdings in shares of Joint by 40.3% in the 3rd quarter. R Squared Ltd now owns 14,910 shares of the company’s stock worth $110,000 after acquiring an additional 4,284 shares during the last quarter. Grandeur Peak Global Advisors LLC acquired a new stake in shares of Joint during the second quarter worth $19,059,000. Susquehanna International Group LLP raised its position in shares of Joint by 161.3% during the second quarter. Susquehanna International Group LLP now owns 43,138 shares of the company’s stock worth $379,000 after purchasing an additional 26,626 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Joint by 35.5% during the second quarter. Squarepoint Ops LLC now owns 105,467 shares of the company’s stock valued at $926,000 after purchasing an additional 27,633 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in shares of Joint by 23.6% during the first quarter. Verus Capital Partners LLC now owns 130,705 shares of the company’s stock valued at $1,157,000 after purchasing an additional 24,929 shares during the last quarter. 76.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JYNT shares. B. Riley Financial reduced 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. Wall Street Zen downgraded shares of Joint from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings raised shares of Joint from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $8.00.

Joint Company Profile

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.