Joint (NASDAQ:JYNT) Major Shareholder Charles Jobson Purchases 236,116 Shares of Company Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson bought 236,116 shares of the stock in a transaction on Monday, November 9th. The shares were bought at an average cost of $6.65 per share, with a total value of $1,570,171.40. Following the purchase, the insider owned 2,030,149 shares of the company’s stock, valued at $13,500,490.85. This trade represents a 13.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Joint Price Performance

Shares of JYNT opened at $6.69 on Friday. The firm has a 50-day simple moving average of $7.53 and a two-hundred day simple moving average of $8.47. The stock has a market cap of $91.59 million, a PE ratio of 29.57 and a beta of 1.16. The Joint Corp. has a 1-year low of $6.52 and a 1-year high of $10.67.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $13.55 million for the quarter, compared to analyst estimates of $14.85 million. Joint had a net margin of 4.81% and a return on equity of 22.11%. As a group, sell-side analysts expect that The Joint Corp. will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joint

Several institutional investors have recently modified their holdings of the business. Grandeur Peak Global Advisors LLC acquired a new stake in shares of Joint in the second quarter valued at $19,059,000. Skylands Capital LLC grew its stake in Joint by 5.6% during the 3rd quarter. Skylands Capital LLC now owns 946,045 shares of the company’s stock worth $7,001,000 after purchasing an additional 50,473 shares in the last quarter. BlackRock Inc. acquired a new position in Joint during the 2nd quarter worth $2,534,000. Dimensional Fund Advisors LP grew its stake in Joint by 37.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 153,754 shares of the company’s stock worth $1,361,000 after purchasing an additional 41,842 shares in the last quarter. Finally, Verus Capital Partners LLC increased its holdings in Joint by 23.6% during the 1st quarter. Verus Capital Partners LLC now owns 130,705 shares of the company’s stock worth $1,157,000 after purchasing an additional 24,929 shares during the period. Institutional investors and hedge funds own 76.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JYNT shares. Wall Street Zen lowered Joint from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. B. Riley Financial lowered their price target on Joint from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Weiss Ratings raised Joint from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Joint has an average rating of “Reduce” and a consensus price target of $8.00.

Joint Company Profile

The Joint Corp. (NASDAQ: JYNT) is a healthcare services company that operates The Joint Chiropractic, a network of chiropractic clinics in the United States. The company focuses on providing routine chiropractic care intended to support musculoskeletal health, mobility and general wellness. The Joint Chiropractic clinics offer services such as chiropractic adjustments and related wellness care. The business model is designed to provide convenient, accessible care through walk-in visits, membership plans and prepaid packages, with an emphasis on transparent pricing and extended operating hours.