Joint (NASDAQ:JYNT) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Joint (NASDAQ:JYNT) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Weiss Ratings raised Joint from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. B. Riley Financial dropped their price target on Joint from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, November 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $8.00.

Joint Trading Up 3.7%

Shares of NASDAQ JYNT traded up $0.25 during mid-day trading on Friday, reaching $6.94. The company had a trading volume of 61,872 shares, compared to its average volume of 68,036. The firm has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $8.45. The stock has a market cap of $95.00 million, a P/E ratio of 34.70 and a beta of 1.16. Joint has a 52-week low of $6.52 and a 52-week high of $10.67.

Joint (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Joint had a net margin of 4.81% and a return on equity of 22.11%. The firm had revenue of $13.55 million for the quarter, compared to analyst estimates of $14.85 million. On average, equities analysts expect that Joint will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Joint news, major shareholder Charles E. Jobson purchased 236,116 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average price of $6.65 per share, for a total transaction of $1,570,171.40. Following the purchase, the insider directly owned 2,030,149 shares in the company, valued at approximately $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 is accessible through the SEC website. In the last ninety days, insiders have acquired 239,120 shares of company stock valued at $1,590,148. 30.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joint

A number of institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd grew its holdings in shares of Joint by 40.3% during the third quarter. R Squared Ltd now owns 14,910 shares of the company’s stock worth $110,000 after buying an additional 4,284 shares during the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in Joint during the 2nd quarter valued at approximately $19,059,000. Susquehanna International Group LLP lifted its position in Joint by 161.3% during the 2nd quarter. Susquehanna International Group LLP now owns 43,138 shares of the company’s stock worth $379,000 after acquiring an additional 26,626 shares during the period. Squarepoint Ops LLC lifted its position in Joint by 35.5% during the 2nd quarter. Squarepoint Ops LLC now owns 105,467 shares of the company’s stock worth $926,000 after acquiring an additional 27,633 shares during the period. Finally, Verus Capital Partners LLC grew its stake in shares of Joint by 23.6% in the 1st quarter. Verus Capital Partners LLC now owns 130,705 shares of the company’s stock valued at $1,157,000 after purchasing an additional 24,929 shares during the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

About Joint

The Joint Corp. operates and franchises The Joint Chiropractic, a network of clinics providing chiropractic care in the United States. Its clinics offer services such as spinal adjustments and other chiropractic treatments focused on musculoskeletal health and wellness. The company’s business model emphasizes convenient access to care, with options that include walk-in visits and recurring membership plans. The Joint Corp. was established in 2010 and is headquartered in Scottsdale, Arizona.