Nuveen LLC Makes New Investment in The Joint Corp. $JYNT

Nuveen LLC acquired a new position in shares of The Joint Corp. (NASDAQ:JYNT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 68,889 shares of the company’s stock, valued at approximately $860,000. Nuveen LLC owned 0.45% of Joint at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of JYNT. Wells Fargo & Company MN increased its stake in shares of Joint by 51.7% in 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 last quarter. Barclays PLC increased its stake in shares of Joint by 6.9% in 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 last quarter. Dimensional Fund Advisors LP increased its stake in shares of Joint by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 216,254 shares of the company’s stock valued at $2,299,000 after purchasing an additional 10,074 shares during the last quarter. Northern Trust Corp increased its stake in shares of Joint by 4.1% in 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 last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Joint by 6.8% in 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 last quarter. Institutional investors own 76.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christopher M. Grandpre acquired 10,000 shares of Joint stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $10.41 per share, for a total transaction of $104,100.00. Following the transaction, the director directly owned 39,383 shares of the company’s stock, valued at approximately $409,977.03. The trade was a 34.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 34,388 shares of company stock worth $367,641. Insiders own 27.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Lake Street Capital decreased their price target on Joint from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. B. Riley decreased their price target on Joint from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Joint has a consensus rating of “Buy” and a consensus target price of $16.33.

Joint Stock Down 0.7%

Shares of JYNT stock opened at $10.66 on Wednesday. The firm has a market capitalization of $163.52 million, a P/E ratio of -32.30 and a beta of 1.46. The Joint Corp. has a twelve month low of $9.58 and a twelve month high of $13.47. The stock’s fifty day simple moving average is $11.19 and its 200 day simple moving average is $11.03.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $13.27 million for the quarter, compared to analyst estimates of $13.32 million. Joint had a positive return on equity of 0.60% and a negative net margin of 7.02%. As a group, equities research analysts expect that The Joint Corp. will post 0.11 EPS for the current fiscal year.

Joint announced that its board has approved a share repurchase plan on Thursday, June 5th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.