Joint (NASDAQ:JYNT) Shares Cross Above 50-Day Moving Average of $14.99

The Joint Corp. (NASDAQ:JYNT – Get Rating)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $14.99 and traded as high as $16.99. Joint shares last traded at $16.77, with a volume of 258,125 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Joint in a report on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.17.

Joint Stock Up 2.2 %

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $14.99 and its 200-day moving average is $16.46. The company has a market cap of $243.67 million, a PE ratio of 335.47 and a beta of 1.24.

Joint (NASDAQ:JYNT – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $26.60 million for the quarter, compared to analysts’ expectations of $26.02 million. Joint had a return on equity of 2.82% and a net margin of 0.88%. On average, analysts predict that The Joint Corp. will post 0.11 EPS for the current year.

Insider Transactions at Joint

In other Joint news, major shareholder Bandera Partners Llc purchased 9,464 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were acquired at an average price of $15.33 per share, for a total transaction of $145,083.12. Following the purchase, the insider now directly owns 2,469,151 shares of the company’s stock, valued at approximately $37,852,084.83. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 51,103 shares of company stock worth $707,793 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Joint

Several institutional investors and hedge funds have recently modified their holdings of JYNT. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Joint during the 3rd quarter valued at $64,000. BNP Paribas Arbitrage SA raised its position in shares of Joint by 36.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,873 shares of the company’s stock valued at $75,000 after purchasing an additional 1,313 shares during the period. Avondale Wealth Management raised its position in shares of Joint by 700.0% during the 3rd quarter. Avondale Wealth Management now owns 6,000 shares of the company’s stock valued at $94,000 after purchasing an additional 5,250 shares during the period. Point72 Hong Kong Ltd raised its position in shares of Joint by 455.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,073 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of Joint by 18.0% during the 3rd quarter. New York State Teachers Retirement System now owns 7,877 shares of the company’s stock valued at $124,000 after purchasing an additional 1,203 shares during the period. 88.13% of the stock is currently owned by institutional investors.

Joint Company Profile

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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.