Joint (NASDAQ:JYNT) Major Shareholder Charles Jobson Purchases 16,753 Shares

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson purchased 16,753 shares of Joint stock in a transaction dated Friday, January 23rd. The stock was bought at an average price of $10.00 per share, with a total value of $167,530.00. Following the completion of the transaction, the insider owned 1,638,424 shares of the company’s stock, valued at $16,384,240. This represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Joint Stock Down 4.7%

Shares of NASDAQ JYNT opened at $9.73 on Wednesday. The company has a market cap of $144.69 million, a P/E ratio of -162.14 and a beta of 1.29. The Joint Corp. has a 52 week low of $7.50 and a 52 week high of $13.47. The business has a 50-day simple moving average of $9.01 and a two-hundred day simple moving average of $9.53.

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

Analyst Ratings Changes

JYNT has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Joint in a research note on Thursday, January 22nd. B. Riley lowered shares of Joint from a “buy” rating to a “hold” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Hedge Funds Weigh In On Joint

A number of large investors have recently added to or reduced their stakes in the business. O Brien Greene & Co. Inc grew its stake in shares of Joint by 33.6% during the second quarter. O Brien Greene & Co. Inc now owns 166,460 shares of the company’s stock valued at $1,921,000 after buying an additional 41,840 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Joint by 5,141.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company’s stock valued at $26,000 after acquiring an additional 2,211 shares during the period. Sanders Morris Harris LLC bought a new position in Joint during the 2nd quarter worth approximately $145,000. JCP Investment Management LLC increased its stake in Joint by 24.0% in the 3rd quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock worth $5,666,000 after purchasing an additional 115,062 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Joint by 104.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after purchasing an additional 1,501 shares during the period. Hedge funds and other institutional investors own 76.88% of the company’s stock.

Joint Company Profile

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.