Mutual of America Capital Management LLC Makes New Investment in The Joint Corp. (NASDAQ:JYNT)

Mutual of America Capital Management LLC acquired a new stake in shares of The Joint Corp. (NASDAQ:JYNT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,876 shares of the company’s stock, valued at approximately $157,000.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new stake in shares of The Joint during the 1st quarter valued at $26,000. PNC Financial Services Group Inc. purchased a new stake in shares of The Joint during the 2nd quarter valued at $31,000. Marshall Wace North America L.P. purchased a new stake in shares of The Joint during the 1st quarter valued at $47,000. Captrust Financial Advisors purchased a new stake in shares of The Joint during the 1st quarter valued at $48,000. Finally, USA Financial Portformulas Corp purchased a new stake in shares of The Joint during the 1st quarter valued at $76,000. Hedge funds and other institutional investors own 88.02% of the company’s stock.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded The Joint from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Wednesday, August 4th. Lake Street Capital increased their price target on The Joint from $70.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Craig Hallum increased their price target on The Joint from $61.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Roth Capital increased their price target on The Joint from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Finally, Maxim Group cut The Joint from a “buy” rating to a “hold” rating in a research report on Thursday, June 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $105.43.

JYNT opened at $106.17 on Friday. The company’s 50 day simple moving average is $93.69 and its two-hundred day simple moving average is $71.37. The Joint Corp. has a 1-year low of $16.03 and a 1-year high of $111.06. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 90.74 and a beta of 1.31.

The Joint (NASDAQ:JYNT) last released its earnings results on Thursday, August 5th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.13. The Joint had a net margin of 24.55% and a return on equity of 41.46%. The business had revenue of $20.22 million for the quarter, compared to analyst estimates of $17.58 million. On average, sell-side analysts forecast that The Joint Corp. will post 0.46 EPS for the current year.

In related news, Director Ronald V. Davella sold 20,000 shares of The Joint stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $101.18, for a total value of $2,023,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jake Singleton sold 8,962 shares of The Joint stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $78.02, for a total transaction of $699,215.24. Following the completion of the sale, the chief financial officer now owns 15,407 shares of the company’s stock, valued at approximately $1,202,054.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,344 shares of company stock worth $4,413,881. Corporate insiders own 4.60% of the company’s stock.

The Joint Profile

The Joint Corp. (United States) engages in the development, ownership, operation, support and management of chiropractic clinics. It operates through two segments: Corporate Clinics and Franchise Operations. The Corporate Clinics segment comprises of the operating activities of the company owned or managed clinics.

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Institutional Ownership by Quarter for The Joint (NASDAQ:JYNT)

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