Charles Jobson Buys 16,753 Shares of Joint (NASDAQ:JYNT) Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson acquired 16,753 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was acquired at an average price of $10.00 per share, for a total transaction of $167,530.00. Following the completion of the purchase, the insider directly owned 1,638,424 shares of the company’s stock, valued at $16,384,240. This trade represents a 1.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Joint Stock Down 1.5%

Shares of NASDAQ:JYNT opened at $9.58 on Thursday. The company has a market cap of $142.45 million, a price-to-earnings ratio of -159.64 and a beta of 1.29. The business has a 50 day moving average price of $9.04 and a 200 day moving average price of $9.53. The Joint Corp. has a twelve month low of $7.50 and a twelve month high of $13.47.

Joint (NASDAQ:JYNT) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.02 EPS 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 company had revenue of $13.38 million during the quarter, compared to analyst estimates of $13.36 million. Analysts anticipate that The Joint Corp. will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Joint

Several large investors have recently modified their holdings of the stock. Sanders Morris Harris LLC bought a new position in shares of Joint during the 2nd quarter worth approximately $145,000. Nisa Investment Advisors LLC raised its stake in Joint by 5,141.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company’s stock worth $26,000 after acquiring an additional 2,211 shares in the last quarter. O Brien Greene & Co. Inc lifted its holdings in shares of Joint by 33.6% during the second quarter. O Brien Greene & Co. Inc now owns 166,460 shares of the company’s stock valued at $1,921,000 after acquiring an additional 41,840 shares during the period. Geode Capital Management LLC lifted 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 acquiring an additional 51,704 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Joint by 32.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock valued at $86,000 after purchasing an additional 1,810 shares in the last quarter. 76.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JYNT. B. Riley lowered Joint from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.00.

About Joint

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.