Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Buys $167,530.00 in Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson bought 16,753 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were acquired 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 directly owned 1,638,424 shares in the company, valued at $16,384,240. This represents a 1.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Joint Price Performance

JYNT stock opened at $9.56 on Friday. The company’s 50 day simple moving average is $9.06 and its 200-day simple moving average is $9.53. The Joint Corp. has a 12 month low of $7.50 and a 12 month high of $13.47. The firm has a market capitalization of $142.16 million, a PE ratio of -159.31 and a beta of 1.29.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $13.36 million. Joint had a negative return on equity of 0.98% and a negative net margin of 1.78%. As a group, sell-side analysts anticipate that The Joint Corp. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Joint by 5,141.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company’s stock valued at $26,000 after purchasing an additional 2,211 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Joint by 104.7% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after acquiring an additional 1,501 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Joint by 32.3% in the second 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Joint by 25.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock worth $95,000 after purchasing an additional 1,698 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Joint in the 3rd quarter valued at approximately $117,000. 76.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JYNT shares. B. Riley downgraded shares of Joint from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.