Joint (NASDAQ:JYNT) Releases Earnings Results, Misses Estimates By $0.05 EPS

Joint (NASDAQ:JYNTGet Rating) posted its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05), MarketWatch Earnings reports. Joint had a return on equity of 16.26% and a net margin of 5.39%. During the same period in the prior year, the business earned $0.16 EPS.

Shares of JYNT stock traded down $10.62 during trading hours on Friday, reaching $17.41. The company’s stock had a trading volume of 3,240,224 shares, compared to its average volume of 273,834. The stock has a market capitalization of $251.75 million, a P/E ratio of 56.16 and a beta of 1.31. Joint has a one year low of $14.09 and a one year high of $111.06. The firm’s fifty day simple moving average is $33.75 and its 200 day simple moving average is $55.74. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.07.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Joint from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. DA Davidson reduced their price target on Joint from $128.00 to $69.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Craig Hallum lowered Joint from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $30.00 in a research report on Friday. StockNews.com lowered Joint from a “hold” rating to a “sell” rating in a research report on Saturday, April 30th. Finally, B. Riley lowered Joint from a “buy” rating to a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Joint has a consensus rating of “Hold” and an average price target of $67.00.

In other news, CEO Peter D. Holt bought 1,500 shares of the stock in a transaction dated Wednesday, March 16th. The stock was bought at an average price of $33.24 per share, for a total transaction of $49,860.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jake Singleton bought 1,515 shares of the stock in a transaction dated Wednesday, March 16th. The stock was purchased at an average price of $33.00 per share, with a total value of $49,995.00. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JYNT. Morgan Stanley lifted its stake in shares of Joint by 131.6% in the 2nd quarter. Morgan Stanley now owns 139,167 shares of the company’s stock valued at $11,678,000 after purchasing an additional 79,076 shares during the period. BlackRock Inc. raised its stake in Joint by 3.0% during the fourth quarter. BlackRock Inc. now owns 2,194,331 shares of the company’s stock valued at $144,146,000 after buying an additional 64,598 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Joint by 10.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 202,551 shares of the company’s stock valued at $13,306,000 after buying an additional 18,427 shares during the last quarter. Millennium Management LLC raised its stake in Joint by 17.9% during the fourth quarter. Millennium Management LLC now owns 95,630 shares of the company’s stock valued at $6,282,000 after buying an additional 14,545 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Joint by 42.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 38,329 shares of the company’s stock valued at $2,518,000 after buying an additional 11,416 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

About Joint (Get Rating)

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and regional developers. As of March 1, 2022, the company operated approximately 700 locations in the United States.

See Also

Earnings History for Joint (NASDAQ:JYNT)

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