Topline Capital Management LLC Buys New Holdings in The Joint Corp. (NASDAQ:JYNT)

Topline Capital Management LLC purchased a new stake in shares of The Joint Corp. (NASDAQ:JYNT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 325,338 shares of the company's stock, valued at approximately $3,458,000. Joint accounts for 0.6% of Topline Capital Management LLC's portfolio, making the stock its 26th largest holding. Topline Capital Management LLC owned approximately 2.17% of Joint at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JYNT. Wells Fargo & Company MN lifted its stake in shares of Joint by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,088 shares of the company's stock worth $54,000 after purchasing an additional 1,735 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Joint in the 3rd quarter valued at approximately $175,000. Sanders Morris Harris LLC acquired a new stake in shares of Joint during the fourth quarter worth $228,000. Barclays PLC raised its stake in Joint by 6.9% during the fourth quarter. Barclays PLC now owns 27,380 shares of the company's stock worth $291,000 after acquiring an additional 1,771 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Joint by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,204 shares of the company's stock worth $385,000 after purchasing an additional 3,029 shares during the period. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Joint from a "buy" rating to a "hold" rating in a research report on Monday, March 17th.

Joint Price Performance

Shares of JYNT traded down $0.14 during trading hours on Wednesday, hitting $9.74. 34,681 shares of the company were exchanged, compared to its average volume of 55,568. The Joint Corp. has a one year low of $9.58 and a one year high of $17.82. The company has a market capitalization of $149.25 million, a PE ratio of -8.54 and a beta of 1.45. The firm has a fifty day simple moving average of $11.08 and a 200-day simple moving average of $11.12.

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.