Joint (NASDAQ:JYNT) Major Shareholder Purchases $84,100.00 in Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson acquired 10,000 shares of the stock in a transaction dated Friday, December 5th. The shares were purchased at an average cost of $8.41 per share, with a total value of $84,100.00. Following the completion of the purchase, the insider owned 1,615,027 shares of the company’s stock, valued at approximately $13,582,377.07. The trade was a 0.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Joint Stock Performance

Shares of NASDAQ JYNT traded up $0.08 during trading hours on Tuesday, hitting $8.72. The company’s stock had a trading volume of 69,848 shares, compared to its average volume of 75,838. The business has a 50-day simple moving average of $8.39 and a 200-day simple moving average of $10.07. The stock has a market cap of $129.63 million, a price-to-earnings ratio of -145.31 and a beta of 1.30. The Joint Corp. has a 12 month low of $7.50 and a 12 month high of $13.47.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.02 earnings per share for the quarter, topping 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 analyst estimates of $13.36 million. On average, equities research analysts forecast that The Joint Corp. will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Joint

Several institutional investors and hedge funds have recently modified their holdings of the stock. Skylands Capital LLC raised its position in shares of Joint by 6.8% in the 3rd quarter. Skylands Capital LLC now owns 832,278 shares of the company’s stock worth $7,940,000 after purchasing an additional 52,983 shares during the last quarter. JCP Investment Management LLC increased its stake in Joint by 24.0% during the 3rd quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock valued at $5,666,000 after purchasing an additional 115,062 shares in the last quarter. Topline Capital Management LLC raised its holdings in Joint by 18.7% in the second quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock worth $5,184,000 after buying an additional 70,910 shares during the last quarter. Alta Fox Capital Management LLC bought a new position in shares of Joint in the first quarter worth approximately $5,035,000. Finally, Geode Capital Management LLC grew its holdings in shares of Joint by 17.6% during the second quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after buying an additional 51,704 shares during the last quarter. 76.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. B. Riley lowered shares of Joint from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Joint in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.00.

Joint Company Profile

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.