Bank of Montreal Can Invests $1.16 Million in The Joint Corp. (NASDAQ:JYNT)

Bank of Montreal Can bought a new stake in shares of The Joint Corp. (NASDAQ:JYNT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,385 shares of the company’s stock, valued at approximately $1,161,000. Bank of Montreal Can owned approximately 0.54% of Joint as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of JYNT. Swiss National Bank grew its stake in Joint by 8.6% during the first quarter. Swiss National Bank now owns 34,100 shares of the company’s stock valued at $1,207,000 after acquiring an additional 2,700 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Joint by 8.2% during the first quarter. JPMorgan Chase & Co. now owns 16,212 shares of the company’s stock valued at $574,000 after acquiring an additional 1,228 shares in the last quarter. Citigroup Inc. grew its stake in Joint by 26.6% during the first quarter. Citigroup Inc. now owns 13,870 shares of the company’s stock valued at $491,000 after acquiring an additional 2,915 shares in the last quarter. Acadian Asset Management LLC grew its stake in Joint by 22.4% during the first quarter. Acadian Asset Management LLC now owns 8,946 shares of the company’s stock valued at $315,000 after acquiring an additional 1,640 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Joint by 58.0% during the first quarter. MetLife Investment Management LLC now owns 8,041 shares of the company’s stock valued at $285,000 after acquiring an additional 2,953 shares in the last quarter. 87.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Joint

In related news, major shareholder Bandera Partners Llc acquired 22,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was bought at an average price of $9.49 per share, for a total transaction of $215,100.34. Following the acquisition, the insider now directly owns 3,719,195 shares of the company’s stock, valued at approximately $35,295,160.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders bought 136,644 shares of company stock worth $1,280,467. 4.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Maxim Group cut shares of Joint from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Lake Street Capital lowered their price objective on shares of Joint from $50.00 to $30.00 in a research report on Monday, September 18th. Craig Hallum initiated coverage on shares of Joint in a research report on Tuesday, September 19th. They set a “hold” rating for the company. StockNews.com initiated coverage on shares of Joint in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Roth Mkm lowered their price objective on shares of Joint from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, September 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Joint Price Performance

Joint stock opened at $8.32 on Friday. The firm has a 50-day moving average price of $8.66 and a 200-day moving average price of $11.66. The firm has a market capitalization of $122.80 million, a PE ratio of 64.00 and a beta of 1.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The Joint Corp. has a 12-month low of $7.31 and a 12-month high of $20.00.

Joint (NASDAQ:JYNT) last released its earnings results on Wednesday, September 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $29.31 million during the quarter, compared to the consensus estimate of $29.85 million. Joint had a return on equity of 5.64% and a net margin of 1.69%. As a group, equities research analysts forecast that The Joint Corp. will post 0.23 EPS for the current year.

Joint 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.