Weiss Ratings Reaffirms “Sell (E+)” Rating for Joint (NASDAQ:JYNT)

Joint (NASDAQ:JYNT)‘s stock had its “sell (e+)” rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Separately, B. Riley decreased their price objective on Joint from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.

Joint Stock Up 2.1%

Shares of JYNT stock opened at $8.40 on Friday. The stock has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $10.47. Joint has a fifty-two week low of $8.01 and a fifty-two week high of $13.47. The stock has a market capitalization of $128.86 million, a P/E ratio of -25.45 and a beta of 1.45.

Joint (NASDAQ:JYNT) last announced its earnings results on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Joint had a positive return on equity of 0.60% and a negative net margin of 7.02%.The business had revenue of $13.27 million during the quarter, compared to analysts’ expectations of $13.32 million. On average, sell-side analysts anticipate that Joint will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christopher M. Grandpre purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $10.41 per share, with a total value of $104,100.00. Following the purchase, the director directly owned 39,383 shares in the company, valued at $409,977.03. This represents a 34.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders acquired 34,388 shares of company stock valued at $367,641. 27.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Joint

Institutional investors have recently bought and sold shares of the business. First Foundation Advisors raised its position in Joint by 21.0% in the 1st quarter. First Foundation Advisors now owns 157,904 shares of the company’s stock valued at $1,972,000 after purchasing an additional 27,444 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Joint during the first quarter worth $860,000. Alta Fox Capital Management LLC acquired a new stake in shares of Joint during the first quarter worth $5,035,000. Russell Investments Group Ltd. grew its stake in shares of Joint by 45.0% during the first quarter. Russell Investments Group Ltd. now owns 116,962 shares of the company’s stock worth $1,461,000 after purchasing an additional 36,319 shares during the period. Finally, Topline Capital Management LLC grew its stake in Joint by 16.3% in the first quarter. Topline Capital Management LLC now owns 378,294 shares of the company’s stock valued at $4,725,000 after acquiring an additional 52,956 shares during the period. Institutional investors own 76.88% of the company’s stock.

Joint Company 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.