Verus Capital Partners LLC Cuts Stock Holdings in The Joint Corp. $JYNT

Verus Capital Partners LLC reduced its position in The Joint Corp. (NASDAQ:JYNT) by 5.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 111,479 shares of the company’s stock after selling 6,745 shares during the quarter. Verus Capital Partners LLC’s holdings in Joint were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in JYNT. First Foundation Advisors increased its holdings in Joint by 21.0% in the first quarter. First Foundation Advisors now owns 157,904 shares of the company’s stock valued at $1,972,000 after buying an additional 27,444 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Joint during the 1st quarter worth about $860,000. Alta Fox Capital Management LLC acquired a new stake in shares of Joint during the 1st quarter valued at about $5,035,000. Russell Investments Group Ltd. increased its stake in shares of Joint by 45.0% in the 1st quarter. Russell Investments Group Ltd. now owns 116,962 shares of the company’s stock valued at $1,461,000 after purchasing an additional 36,319 shares in the last quarter. Finally, Topline Capital Management LLC increased its stake in shares of Joint by 16.3% in the 1st quarter. Topline Capital Management LLC now owns 378,294 shares of the company’s stock valued at $4,725,000 after purchasing an additional 52,956 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

Joint Stock Up 4.4%

JYNT opened at $8.15 on Wednesday. The company has a market cap of $125.05 million, a PE ratio of -24.70 and a beta of 1.48. The Joint Corp. has a twelve month low of $7.50 and a twelve month high of $13.47. The company has a 50-day moving average price of $9.08 and a 200 day moving average price of $10.30.

Joint (NASDAQ:JYNT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Joint had a positive return on equity of 0.60% and a negative net margin of 7.02%.The company had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $13.36 million. As a group, sell-side analysts expect that The Joint Corp. will post 0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on JYNT. B. Riley downgraded Joint from a “buy” rating to a “hold” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Joint in a research note on Wednesday, October 8th. One 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.com, the company presently has an average rating of “Hold” and a consensus price target of $17.00.

Insider Activity

In other news, Director Christopher M. Grandpre purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $10.41 per share, for a total transaction of $104,100.00. Following the completion of the transaction, the director owned 39,383 shares of the company’s stock, valued at $409,977.03. This trade represents a 34.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 34,388 shares of company stock valued at $367,641 over the last quarter. Insiders own 27.90% of the company’s stock.

Joint 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.