Maxim Group Reaffirms Buy Rating for The Joint Corp. (JYNT)
The Joint Corp. (NASDAQ:JYNT)‘s stock had its “buy” rating restated by equities research analysts at Maxim Group in a research report issued to clients and investors on Friday. They presently have a $7.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 88.17% from the company’s previous close.
A number of other research analysts have also issued reports on the stock. Roth Capital initiated coverage on shares of The Joint Corp. in a research note on Thursday, July 27th. They set a “buy” rating and a $5.70 target price for the company. Craig Hallum initiated coverage on shares of The Joint Corp. in a research note on Wednesday, June 14th. They issued a “buy” rating and a $5.75 price target for the company. ValuEngine raised shares of The Joint Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Zacks Investment Research lowered shares of The Joint Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $5.61.
Shares of The Joint Corp. (JYNT) opened at 3.72 on Friday. The Joint Corp. has a 12 month low of $1.96 and a 12 month high of $4.74. The firm’s market cap is $48.67 million. The company has a 50-day moving average of $3.74 and a 200-day moving average of $3.86.
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In related news, Director James H. Amos, Jr. purchased 10,000 shares of The Joint Corp. stock in a transaction dated Friday, June 30th. The stock was bought at an average cost of $3.85 per share, with a total value of $38,500.00. Following the purchase, the director now owns 57,295 shares in the company, valued at approximately $220,585.75. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John P. Meloun purchased 6,850 shares of The Joint Corp. stock in a transaction dated Tuesday, June 27th. The stock was bought at an average cost of $3.69 per share, with a total value of $25,276.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 20,670 shares of company stock valued at $78,140. Company insiders own 6.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Sanders Morris Harris LLC raised its stake in shares of The Joint Corp. by 0.5% in the second quarter. Sanders Morris Harris LLC now owns 2,619,807 shares of the company’s stock worth $9,955,000 after buying an additional 12,000 shares in the last quarter. Sanders Morris Harris Inc. raised its stake in shares of The Joint Corp. by 0.3% in the first quarter. Sanders Morris Harris Inc. now owns 2,607,807 shares of the company’s stock worth $10,952,000 after buying an additional 7,200 shares in the last quarter. Skylands Capital LLC raised its stake in shares of The Joint Corp. by 4.1% in the first quarter. Skylands Capital LLC now owns 565,229 shares of the company’s stock worth $2,374,000 after buying an additional 22,500 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of The Joint Corp. during the second quarter worth $791,000. Finally, Boston Partners raised its stake in shares of The Joint Corp. by 13.1% in the second quarter. Boston Partners now owns 150,900 shares of the company’s stock worth $573,000 after buying an additional 17,500 shares in the last quarter. 45.91% of the stock is owned by institutional investors.
About The Joint Corp.
The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.
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