Russell Investments Group Ltd. Trims Stock Position in The Joint Corp. (NASDAQ:JYNT)

Russell Investments Group Ltd. lessened its holdings in shares of The Joint Corp. (NASDAQ:JYNT) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,246 shares of the company’s stock after selling 7,667 shares during the period. Russell Investments Group Ltd. owned approximately 0.48% of Joint worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bandera Partners LLC grew its position in Joint by 337.5% during the first quarter. Bandera Partners LLC now owns 1,000,000 shares of the company’s stock valued at $35,390,000 after buying an additional 771,453 shares during the period. Millennium Management LLC grew its position in Joint by 158.8% during the fourth quarter. Millennium Management LLC now owns 562,444 shares of the company’s stock valued at $7,863,000 after buying an additional 345,133 shares during the period. Allspring Global Investments Holdings LLC grew its position in Joint by 14,771.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 106,036 shares of the company’s stock valued at $1,785,000 after buying an additional 105,323 shares during the period. BlackRock Inc. grew its position in Joint by 3.5% during the first quarter. BlackRock Inc. now owns 2,270,914 shares of the company’s stock valued at $80,366,000 after buying an additional 76,583 shares during the period. Finally, GSA Capital Partners LLP grew its position in Joint by 265.8% during the fourth quarter. GSA Capital Partners LLP now owns 98,800 shares of the company’s stock valued at $1,381,000 after buying an additional 71,794 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.

Joint Stock Down 1.1 %

Shares of NASDAQ JYNT opened at $9.49 on Thursday. The company’s 50-day simple moving average is $12.42 and its 200-day simple moving average is $14.27. The Joint Corp. has a 52-week low of $9.23 and a 52-week high of $20.14. The firm has a market cap of $139.31 million, a price-to-earnings ratio of 39.54 and a beta of 1.40. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

JYNT has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Joint in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Maxim Group lowered shares of Joint from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Roth Mkm dropped their target price on shares of Joint from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 11th.

Insider Activity

In related news, major shareholder Bandera Partners Llc bought 4,912 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $13.06 per share, for a total transaction of $64,150.72. Following the completion of the transaction, the insider now directly owns 2,604,063 shares in the company, valued at $34,009,062.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 808,421 shares of company stock worth $8,408,512 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

Joint Company Profile

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.