Joint (NASDAQ:JYNT) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

The Joint Corp. (NASDAQ:JYNT) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.36 and traded as high as $8.95. Joint shares last traded at $8.93, with a volume of 53,988 shares.

Analyst Ratings Changes

JYNT has been the topic of several recent research reports. B. Riley downgraded Joint from a “buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Joint in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Joint Stock Performance

The company has a market cap of $132.79 million, a PE ratio of -148.81 and a beta of 1.30. The business’s 50-day moving average is $8.36 and its 200 day moving average is $10.01.

Joint (NASDAQ:JYNT) last issued its earnings results on Friday, November 7th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $13.38 million for the quarter, compared to the consensus estimate of $13.36 million. Joint had a negative net margin of 1.78% and a negative return on equity of 0.98%. Equities research analysts anticipate that The Joint Corp. will post 0.11 EPS for the current fiscal year.

Insider Activity

In other Joint news, major shareholder Charles E. Jobson acquired 13,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average cost of $8.41 per share, with a total value of $109,330.00. Following the transaction, the insider owned 1,605,027 shares of the company’s stock, valued at $13,498,277.07. The trade was a 0.82% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 33,000 shares of company stock valued at $278,430 in the last 90 days. Corporate insiders own 27.90% of the company’s stock.

Institutional Investors Weigh In On Joint

A number of hedge funds have recently added to or reduced their stakes in the stock. Skylands Capital LLC raised its position in Joint by 6.8% in the third quarter. Skylands Capital LLC now owns 832,278 shares of the company’s stock worth $7,940,000 after acquiring an additional 52,983 shares during the period. JCP Investment Management LLC increased its holdings in Joint by 24.0% in the 3rd quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock valued at $5,666,000 after acquiring an additional 115,062 shares during the last quarter. Topline Capital Management LLC boosted its stake in Joint by 18.7% during the second quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock valued at $5,184,000 after buying an additional 70,910 shares during the last quarter. Alta Fox Capital Management LLC purchased a new stake in Joint during the first quarter valued at $5,035,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Joint by 17.6% in the 2nd quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after acquiring an additional 51,704 shares during the last quarter. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

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.