Joint (NASDAQ:JYNT) Posts Earnings Results, Beats Expectations By $0.02 EPS

Joint (NASDAQ:JYNT) released its quarterly earnings data on Thursday. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02, FiscalAI reports. The firm had revenue of $15.17 million during the quarter, compared to analysts’ expectations of $14.12 million. Joint had a negative net margin of 1.78% and a negative return on equity of 0.98%.

Joint Stock Down 3.5%

Shares of Joint stock traded down $0.30 during trading hours on Thursday, reaching $8.21. 66,471 shares of the stock traded hands, compared to its average volume of 59,018. Joint has a one year low of $7.50 and a one year high of $13.47. The firm has a market capitalization of $122.08 million, a price-to-earnings ratio of -136.81 and a beta of 1.33. The company has a 50 day moving average price of $9.29 and a 200 day moving average price of $9.11.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Joint

In other Joint news, major shareholder Charles E. Jobson acquired 16,753 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average price of $10.00 per share, with a total value of $167,530.00. Following the completion of the acquisition, the insider owned 1,638,424 shares in the company, valued at $16,384,240. This represents a 1.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have purchased 37,849 shares of company stock valued at $348,981. 27.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joint

Several hedge funds and other institutional investors have recently modified their holdings of JYNT. JCP Investment Management LLC purchased a new stake in Joint in the second quarter worth about $5,526,000. Topline Capital Management LLC grew its holdings in Joint by 18.7% during the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock valued at $5,184,000 after buying an additional 70,910 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Joint by 17.6% in the second quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after purchasing an additional 51,704 shares in the last quarter. State Street Corp grew its stake in shares of Joint by 0.8% in the 4th 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 in the last quarter. Finally, First Foundation Advisors grew its position in Joint by 47.8% in the third quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock worth $2,612,000 after acquiring an additional 88,486 shares in the last quarter. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

Joint Company Profile

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.