Joint (NASDAQ:JYNT) Cut to Hold at Zacks Research

Joint (NASDAQ:JYNTGet Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 12th. Wall Street Zen cut shares of Joint from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Get Our Latest Research Report on JYNT

Joint Trading Down 0.2%

Shares of NASDAQ JYNT opened at $8.93 on Tuesday. Joint has a 12-month low of $7.50 and a 12-month high of $12.11. The stock’s fifty day simple moving average is $8.83 and its two-hundred day simple moving average is $8.95. The stock has a market capitalization of $127.34 million, a PE ratio of 38.83 and a beta of 1.09.

Joint (NASDAQ:JYNTGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. Joint had a return on equity of 7.00% and a net margin of 5.72%.The firm had revenue of $14.82 million during the quarter, compared to analyst estimates of $14.50 million. On average, equities analysts predict that Joint will post 0.51 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Charles E. Jobson bought 127,676 shares of Joint stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $8.57 per share, for a total transaction of $1,094,183.32. Following the purchase, the insider directly owned 1,773,479 shares of the company’s stock, valued at approximately $15,198,715.03. The trade was a 7.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 30.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in 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 buying an additional 51,704 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Joint by 32.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock valued at $86,000 after acquiring an additional 1,810 shares during the period. Rhumbline Advisers lifted its stake in Joint by 25.9% during the 2nd quarter. Rhumbline Advisers now owns 20,934 shares of the company’s stock valued at $242,000 after acquiring an additional 4,307 shares during the period. American Century Companies Inc. boosted its holdings in shares of Joint by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 27,572 shares of the company’s stock valued at $318,000 after acquiring an additional 3,366 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock valued at $95,000 after acquiring an additional 1,698 shares during the last quarter. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

About Joint

(Get Free Report)

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.

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