Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Acquires 5,240 Shares of Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson purchased 5,240 shares of the stock in a transaction dated Tuesday, January 6th. The shares were bought at an average price of $8.89 per share, for a total transaction of $46,583.60. Following the completion of the acquisition, the insider owned 1,621,671 shares in the company, valued at $14,416,655.19. This represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Joint Stock Performance

Shares of NASDAQ:JYNT traded up $0.15 during midday trading on Thursday, hitting $8.98. 63,068 shares of the stock were exchanged, compared to its average volume of 64,554. The company has a market capitalization of $133.50 million, a PE ratio of -149.64 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’s fifty day simple moving average is $8.53 and its two-hundred day simple moving average is $9.72.

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

Analyst Upgrades and Downgrades

JYNT has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Joint in a report on Wednesday, October 8th. B. Riley downgraded 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Joint currently has an average rating of “Hold” and an average price target of $17.00.

Institutional Trading of Joint

Several hedge funds have recently added to or reduced their stakes in JYNT. First Foundation Advisors raised its stake in shares of Joint by 47.8% in the third quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock valued at $2,612,000 after purchasing an additional 88,486 shares in the last quarter. 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 buying an additional 115,062 shares during the period. BNP Paribas Financial Markets increased its holdings in Joint by 104.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock valued at $28,000 after buying an additional 1,501 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Joint by 13.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 115,885 shares of the company’s stock valued at $1,106,000 after buying an additional 13,557 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its holdings in shares of Joint by 1.7% during the 3rd quarter. Verus Capital Partners LLC now owns 113,426 shares of the company’s stock worth $1,082,000 after acquiring an additional 1,947 shares during the period. Institutional investors own 76.88% of the company’s stock.

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.