BlackRock Inc. Makes New $2.53 Million Investment in The Joint Corp. $JYNT

Key Points

• BlackRock acquired 288,615 shares of The Joint Corp. during the second quarter, valued at approximately $2.53 million and representing about 2.02% of the company. Institutional investors collectively own 76.88% of JYNT.
• The Joint reported quarterly EPS of $0.05, in line with estimates, while revenue of $15.18 million exceeded expectations of $14.57 million. Analysts expect full-year EPS of $0.31.
• JYNT shares opened at $8.32, within a 52-week range of $7.50 to $10.74. Recent rating changes resulted in an overall analyst consensus of “Hold.”

BlackRock Inc. bought a new position in The Joint Corp. (NASDAQ:JYNT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 288,615 shares of the company's stock, valued at approximately $2,534,000. BlackRock Inc. owned approximately 2.02% of Joint as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Joint by 104.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company's stock worth $28,000 after acquiring an additional 1,501 shares during the last quarter. JPMorgan Chase & Co. boosted 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 purchasing an additional 1,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $95,000 after purchasing an additional 1,698 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Joint in the 4th quarter worth $124,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Joint by 78.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,476 shares of the company's stock worth $135,000 after purchasing an additional 6,784 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company's stock.

Joint Price Performance

JYNT stock opened at $8.32 on Friday. The Joint Corp. has a 1 year low of $7.50 and a 1 year high of $10.74. The company has a market cap of $117.64 million, a P/E ratio of 30.81 and a beta of 1.05. The stock's fifty day moving average price is $8.58 and its 200-day moving average price is $8.71.

Joint (NASDAQ:JYNT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.05 EPS for the quarter, meeting analysts' consensus estimates of $0.05. The company had revenue of $15.18 million during the quarter, compared to analysts' expectations of $14.57 million. Joint had a return on equity of 12.02% and a net margin of 6.49%. As a group, analysts expect that The Joint Corp. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JYNT. Wall Street Zen downgraded Joint from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Zacks Research downgraded Joint from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised Joint from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Joint Company Profile

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.

Want to see what other hedge funds are holding JYNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Joint Corp. (NASDAQ:JYNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.