Zacks Research Downgrades Joint (NASDAQ:JYNT) to Hold

Joint (NASDAQ:JYNT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.00.

Joint Stock Performance

Shares of Joint stock traded up $0.12 on Monday, hitting $9.10. The company had a trading volume of 1,425 shares, compared to its average volume of 62,690. The stock has a market capitalization of $130.37 million, a price-to-earnings ratio of 47.92 and a beta of 1.22. Joint has a 1 year low of $7.50 and a 1 year high of $13.47. The stock has a 50 day moving average of $8.77 and a 200-day moving average of $8.80.

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

Insider Activity at Joint

In other Joint news, major shareholder Charles E. Jobson purchased 15,397 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $8.50 per share, with a total value of $130,874.50. Following the completion of the transaction, the insider owned 1,645,294 shares of the company’s stock, valued at $13,984,999. The trade was a 0.94% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 32,598 shares of company stock worth $302,302 over the last three months. Company insiders own 27.90% of the company’s stock.

Institutional Trading of Joint

Institutional investors and hedge funds have recently modified their holdings of the business. JCP Investment Management LLC increased its position in shares of Joint by 24.0% during the third quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock valued at $5,666,000 after acquiring an additional 115,062 shares during the last quarter. State Street Corp increased its position in Joint by 0.8% in the fourth quarter. State Street Corp now owns 292,123 shares of the company’s stock worth $2,547,000 after buying an additional 2,341 shares during the last quarter. Russell Investments Group Ltd. increased its position in Joint by 77.3% in the fourth 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 during the last quarter. Squarepoint Ops LLC purchased a new stake in Joint in the fourth quarter worth $766,000. Finally, Deutsche Bank AG increased its position in Joint by 1.8% in the fourth quarter. Deutsche Bank AG now owns 84,745 shares of the company’s stock worth $739,000 after buying an additional 1,462 shares during the last quarter. 76.88% of the stock is owned by hedge funds and other 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.