Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Buys 10,000 Shares of Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson purchased 10,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was purchased at an average cost of $8.50 per share, for a total transaction of $85,000.00. Following the completion of the acquisition, the insider directly owned 1,599,946 shares of the company’s stock, valued at approximately $13,599,541. The trade was a 0.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Joint Stock Up 1.6%

Shares of Joint stock traded up $0.13 during trading on Tuesday, reaching $8.49. The company’s stock had a trading volume of 111,129 shares, compared to its average volume of 74,264. The Joint Corp. has a 1-year low of $7.50 and a 1-year high of $13.47. The company has a 50-day simple moving average of $8.70 and a two-hundred day simple moving average of $10.18. The company has a market cap of $126.21 million, a price-to-earnings ratio of -25.73 and a beta of 1.48.

Joint (NASDAQ:JYNT) last announced its earnings results on Friday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $13.38 million for the quarter, compared to analyst estimates of $13.36 million. Joint had a positive return on equity of 0.60% and a negative net margin of 7.02%. As a group, analysts anticipate that The Joint Corp. will post 0.11 earnings per share for the current year.

Institutional Trading of Joint

Several institutional investors and hedge funds have recently bought and sold shares of JYNT. Nisa Investment Advisors LLC raised its holdings in shares of Joint by 5,141.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company’s stock worth $26,000 after purchasing an additional 2,211 shares during the last quarter. BNP Paribas Financial Markets grew its position in Joint by 104.7% during 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. MetLife Investment Management LLC acquired a new stake in Joint during the 1st quarter worth about $88,000. JPMorgan Chase & Co. raised its stake in shares of Joint by 32.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock valued at $86,000 after buying an additional 1,810 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock valued at $95,000 after buying an additional 1,698 shares during the period. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Wednesday, October 8th. B. Riley lowered shares of Joint from a “buy” rating to a “hold” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.00.

About Joint

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.