Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Buys 127,676 Shares of Stock

The Joint Corp. (NASDAQ:JYNTGet Free Report) major shareholder Charles Jobson acquired 127,676 shares of the stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $8.57 per share, for a total transaction of $1,094,183.32. Following the completion of the transaction, the insider owned 1,773,479 shares of the company’s stock, valued at $15,198,715.03. This trade represents a 7.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Joint Stock Performance

Shares of JYNT stock traded down $0.09 during mid-day trading on Thursday, reaching $8.21. The company’s stock had a trading volume of 62,310 shares, compared to its average volume of 61,837. The firm’s 50-day moving average is $8.68 and its two-hundred day moving average is $8.82. The Joint Corp. has a 1-year low of $7.50 and a 1-year high of $13.47. The company has a market cap of $117.03 million, a P/E ratio of 35.70 and a beta of 1.11.

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

Institutional Trading of Joint

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised 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 valued at $28,000 after acquiring an additional 1,501 shares during the last quarter. JPMorgan Chase & Co. grew its position in Joint by 32.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock worth $86,000 after acquiring an additional 1,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 acquiring an additional 1,698 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Joint during the 3rd quarter valued at $117,000. Finally, XTX Topco Ltd acquired a new stake in Joint during the 4th quarter valued at $124,000. Institutional investors and hedge funds own 76.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on JYNT. Wall Street Zen raised Joint from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Joint from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Joint from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Read Our Latest Analysis on Joint

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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Insider Buying and Selling by Quarter for Joint (NASDAQ:JYNT)

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