The Joint Corp. (NASDAQ:JYNT) Stock Holdings Lessened by Bank of America Corp DE

Bank of America Corp DE lowered its stake in The Joint Corp. (NASDAQ:JYNT) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,116 shares of the company’s stock after selling 1,737 shares during the period. Bank of America Corp DE owned approximately 0.07% of Joint worth $118,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of JYNT. Wells Fargo & Company MN raised its stake in Joint by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 5,088 shares of the company’s stock valued at $54,000 after purchasing an additional 1,735 shares during the period. BNP Paribas Financial Markets raised its stake in Joint by 6.8% during the 4th quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company’s stock valued at $255,000 after purchasing an additional 1,521 shares during the period. Barclays PLC raised its stake in Joint by 6.9% during the 4th quarter. Barclays PLC now owns 27,380 shares of the company’s stock valued at $291,000 after purchasing an additional 1,771 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Joint by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,204 shares of the company’s stock valued at $385,000 after purchasing an additional 3,029 shares during the period. Finally, Northern Trust Corp raised its stake in Joint by 4.1% during the 4th quarter. Northern Trust Corp now owns 131,313 shares of the company’s stock valued at $1,396,000 after purchasing an additional 5,220 shares during the period. Institutional investors own 76.88% of the company’s stock.

Joint Trading Up 6.1%

NASDAQ JYNT opened at $12.19 on Tuesday. The Joint Corp. has a 1-year low of $9.58 and a 1-year high of $15.32. The company has a market capitalization of $186.54 million, a PE ratio of -10.69 and a beta of 1.48. The firm’s fifty day simple moving average is $10.48 and its 200-day simple moving average is $10.93.

Joint (NASDAQ:JYNT) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Joint had a positive return on equity of 8.24% and a negative net margin of 13.95%. The company had revenue of $13.08 million during the quarter, compared to analyst estimates of $13.02 million. As a group, analysts predict that The Joint Corp. will post 0.11 EPS for the current year.

Joint declared that its board has authorized a share buyback program on Thursday, June 5th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Lake Street Capital cut their target price on shares of Joint from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Wall Street Zen downgraded shares of Joint from a “buy” rating to a “hold” rating in a research note on Monday, March 17th.

Joint Profile

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.