Joint (NASDAQ:JYNT) Major Shareholder Charles Jobson Buys 16,753 Shares of Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson acquired 16,753 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average cost of $10.00 per share, with a total value of $167,530.00. Following the completion of the transaction, the insider directly owned 1,638,424 shares in the company, valued at approximately $16,384,240. The trade was a 1.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Joint Stock Down 4.7%

JYNT stock traded down $0.48 during mid-day trading on Tuesday, hitting $9.73. 52,707 shares of the company were exchanged, compared to its average volume of 55,427. The Joint Corp. has a 12-month low of $7.50 and a 12-month high of $13.47. The firm has a market capitalization of $144.69 million, a P/E ratio of -162.14 and a beta of 1.29. The business has a fifty day simple moving average of $9.01 and a 200-day simple moving average of $9.53.

Joint (NASDAQ:JYNT) last released its quarterly earnings results on Friday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $13.38 million for the quarter, compared to the consensus estimate of $13.36 million. Joint had a negative net margin of 1.78% and a negative return on equity of 0.98%. Research analysts predict that The Joint Corp. will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JYNT. Nisa Investment Advisors LLC increased its holdings in Joint by 5,141.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company’s stock worth $26,000 after purchasing an additional 2,211 shares during the period. BNP Paribas Financial Markets grew its position in shares of Joint by 104.7% during the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after buying an additional 1,501 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Joint by 32.3% during the second quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock worth $86,000 after buying an additional 1,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Joint by 25.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock valued at $95,000 after acquiring an additional 1,698 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in Joint in the third quarter valued at approximately $117,000. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JYNT has been the subject of a number of research reports. B. Riley cut Joint from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Joint presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Joint Company Profile

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.