Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Buys 10,000 Shares of Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson acquired 10,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were purchased at an average cost of $8.50 per share, for a total transaction of $85,000.00. Following the purchase, the insider directly owned 1,599,946 shares in the company, valued at approximately $13,599,541. This trade represents a 0.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Joint Stock Performance

Shares of JYNT traded up $0.13 during trading hours on Tuesday, hitting $8.49. The stock had a trading volume of 111,129 shares, compared to its average volume of 74,264. The firm has a 50-day moving average price of $8.70 and a 200 day moving average price of $10.18. The Joint Corp. has a fifty-two week low of $7.50 and a fifty-two week high of $13.47. The firm has a market capitalization of $126.21 million, a price-to-earnings ratio of -25.73 and a beta of 1.48.

Joint (NASDAQ:JYNT) last released its quarterly earnings data on Friday, November 7th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $13.38 million during the quarter, compared to analysts’ expectations of $13.36 million. Joint had a negative net margin of 7.02% and a positive return on equity of 0.60%. As a group, analysts predict that The Joint Corp. will post 0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Joint

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JCP Investment Management LLC acquired a new stake in shares of Joint in the second quarter valued at about $5,526,000. Alta Fox Capital Management LLC acquired a new stake in Joint in the 1st quarter valued at about $5,035,000. First Foundation Advisors raised its holdings in Joint by 47.8% in the 3rd quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock valued at $2,612,000 after acquiring an additional 88,486 shares during the last quarter. Topline Capital Management LLC lifted its stake in Joint by 18.7% in the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock worth $5,184,000 after purchasing an additional 70,910 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Joint during the 1st quarter worth approximately $860,000. Institutional investors and hedge funds own 76.88% of the company’s stock.

About Joint

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.