Joint (NASDAQ:JYNT) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Joint (NASDAQ:JYNT) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Joint Stock Performance

JYNT opened at $9.08 on Monday. The company has a fifty day moving average price of $8.76 and a two-hundred day moving average price of $8.80. Joint has a 52 week low of $7.50 and a 52 week high of $13.47. The firm has a market capitalization of $130.03 million, a PE ratio of 47.79 and a beta of 1.22.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, March 12th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Joint had a net margin of 4.99% and a negative return on equity of 1.28%. The firm had revenue of $15.17 million during the quarter, compared to analyst estimates of $14.12 million. Equities analysts forecast that Joint will post 0.11 EPS for the current year.

Insider Buying and Selling

In other Joint news, major shareholder Charles E. Jobson purchased 15,397 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $8.50 per share, with a total value of $130,874.50. Following the transaction, the insider directly owned 1,645,294 shares of the company’s stock, valued at $13,984,999. This represents a 0.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 32,598 shares of company stock worth $302,302. Insiders own 27.90% of the company’s stock.

Institutional Investors Weigh In On Joint

Several institutional investors and hedge funds have recently added to or reduced their stakes in JYNT. JCP Investment Management LLC bought a new stake in Joint during the 2nd quarter worth about $5,526,000. Clayton Partners LLC bought a new stake in Joint during the 4th quarter worth about $1,652,000. Russell Investments Group Ltd. lifted its position in Joint by 77.3% during the 4th quarter. Russell Investments Group Ltd. now owns 205,411 shares of the company’s stock worth $1,791,000 after buying an additional 89,526 shares in the last quarter. First Foundation Advisors lifted its position in Joint by 47.8% during the 3rd quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock worth $2,612,000 after buying an additional 88,486 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Joint during the 4th quarter worth about $766,000. 76.88% of the stock is owned by institutional investors.

About Joint

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.