Joint (NASDAQ:JYNT) Stock Rating Cut to Hold at Wall Street Zen

Joint (NASDAQ:JYNT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on JYNT. B. Riley Financial dropped their target price on shares of Joint from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, November 9th. Weiss Ratings raised shares of Joint from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Joint has a consensus rating of "Reduce" and an average price target of $8.00.

Joint Trading Up 3.7%

JYNT stock opened at $6.94 on Friday. The stock's 50 day simple moving average is $7.51 and its 200 day simple moving average is $8.45. Joint has a 12-month low of $6.52 and a 12-month high of $10.67. The firm has a market cap of $95.01 million, a P/E ratio of 29.09 and a beta of 1.16.

Joint (NASDAQ:JYNT - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. Joint had a net margin of 4.81% and a return on equity of 22.11%. The firm had revenue of $13.55 million during the quarter, compared to the consensus estimate of $14.85 million. On average, research analysts forecast that Joint will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Charles E. Jobson purchased 236,116 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average price of $6.65 per share, with a total value of $1,570,171.40. Following the acquisition, the insider owned 2,030,149 shares in the company, valued at approximately $13,500,490.85. This trade represents a 13.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 239,120 shares of company stock valued at $1,590,148. Company insiders own 30.20% of the company's stock.

Institutional Investors Weigh In On Joint

Several large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its holdings in Joint by 372.2% in the third quarter. Marshall Wace LLP now owns 251,089 shares of the company's stock worth $1,858,000 after purchasing an additional 197,916 shares during the period. R Squared Ltd grew its position in Joint by 40.3% in the 3rd quarter. R Squared Ltd now owns 14,910 shares of the company's stock valued at $110,000 after buying an additional 4,284 shares in the last quarter. Skylands Capital LLC grew its position in Joint by 5.6% in the 3rd quarter. Skylands Capital LLC now owns 946,045 shares of the company's stock valued at $7,001,000 after buying an additional 50,473 shares in the last quarter. Squarepoint Ops LLC increased its stake in Joint by 35.5% during the 2nd quarter. Squarepoint Ops LLC now owns 105,467 shares of the company's stock valued at $926,000 after buying an additional 27,633 shares during the period. Finally, Susquehanna International Group LLP increased its stake in Joint by 161.3% during the 2nd quarter. Susquehanna International Group LLP now owns 43,138 shares of the company's stock valued at $379,000 after buying an additional 26,626 shares during the period. 76.88% of the stock is owned by institutional investors and hedge funds.

About Joint

The Joint Corp. operates and franchises The Joint Chiropractic, a network of clinics providing chiropractic care in the United States. Its clinics offer services such as spinal adjustments and other chiropractic treatments focused on musculoskeletal health and wellness. The company's business model emphasizes convenient access to care, with options that include walk-in visits and recurring membership plans. The Joint Corp. was established in 2010 and is headquartered in Scottsdale, Arizona.

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