Russell Investments Group Ltd. Buys 17,500 Shares of The Joint Corp. (JYNT)
Russell Investments Group Ltd. boosted its stake in shares of The Joint Corp. (NASDAQ:JYNT) by 24.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 87,900 shares of the company’s stock after buying an additional 17,500 shares during the period. Russell Investments Group Ltd. owned approximately 0.67% of The Joint Corp. worth $334,000 at the end of the most recent quarter.
Separately, Sanders Morris Harris LLC raised its holdings in The Joint Corp. by 0.5% during the 2nd quarter. Sanders Morris Harris LLC now owns 2,619,807 shares of the company’s stock valued at $9,955,000 after buying an additional 12,000 shares during the period. 47.03% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Maxim Group restated a “buy” rating and set a $7.00 price target on shares of The Joint Corp. in a report on Friday, August 11th. Roth Capital assumed coverage on The Joint Corp. in a report on Thursday, July 27th. They set a “buy” rating and a $5.70 price target on the stock. Craig Hallum assumed coverage on The Joint Corp. in a report on Wednesday, June 14th. They set a “buy” rating and a $5.75 price target on the stock. Finally, ValuEngine upgraded The Joint Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The Joint Corp. currently has a consensus rating of “Buy” and an average target price of $5.61.
The Joint Corp. (JYNT) traded down 2.23% during mid-day trading on Friday, reaching $4.39. The company had a trading volume of 27,524 shares. The Joint Corp. has a 52 week low of $1.96 and a 52 week high of $5.07. The stock’s market capitalization is $57.85 million. The stock has a 50 day moving average of $4.17 and a 200 day moving average of $3.93.
The Joint Corp. (NASDAQ:JYNT) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. The company had revenue of $6.02 million for the quarter, compared to analyst estimates of $5.76 million. The Joint Corp. had a negative return on equity of 103.25% and a negative net margin of 48.08%. Analysts anticipate that The Joint Corp. will post ($0.33) earnings per share for the current year.
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In other The Joint Corp. news, Director James H. Amos, Jr. purchased 10,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were acquired at an average price of $3.85 per share, with a total value of $38,500.00. Following the purchase, the director now directly owns 57,295 shares in the company, valued at approximately $220,585.75. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John P. Meloun purchased 6,850 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $25,276.50. The disclosure for this purchase can be found here. Insiders have acquired 20,670 shares of company stock worth $78,140 in the last three months. 6.10% of the stock is currently owned by corporate insiders.
The Joint Corp. Profile
The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.
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