Clayton Partners LLC Has $2.69 Million Stock Holdings in The Joint Corp. $JYNT

Key Points

• Clayton Partners LLC has reduced its stake in The Joint Corp. by 30.6%, now holding 215,000 shares after selling 95,000 shares in the first quarter.
• The Joint Corp. reported earnings of ($0.06) EPS, exceeding analyst expectations of ($0.07), with a revenue of $13.27 million for the quarter.
• The company has authorized a $5.00 million share buyback program, indicating the board's belief that its stock is undervalued.

Clayton Partners LLC lowered its holdings in The Joint Corp. (NASDAQ:JYNT - Free Report) by 30.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,000 shares of the company's stock after selling 95,000 shares during the quarter. Joint accounts for 2.3% of Clayton Partners LLC's holdings, making the stock its 22nd largest holding. Clayton Partners LLC owned 1.40% of Joint worth $2,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in Joint by 6.8% in the fourth quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company's stock valued at $255,000 after purchasing an additional 1,521 shares during the period. Wells Fargo & Company MN grew its stake in shares of Joint by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 5,088 shares of the company's stock valued at $54,000 after buying an additional 1,735 shares in the last quarter. Barclays PLC grew its stake in shares of Joint by 6.9% in the fourth quarter. Barclays PLC now owns 27,380 shares of the company's stock valued at $291,000 after buying an additional 1,771 shares in the last quarter. Northern Trust Corp grew its stake in Joint by 4.1% during the 4th quarter. Northern Trust Corp now owns 131,313 shares of the company's stock worth $1,396,000 after purchasing an additional 5,220 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Joint by 31.9% during the 4th quarter. Squarepoint Ops LLC now owns 24,583 shares of the company's stock worth $261,000 after acquiring an additional 5,946 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Lake Street Capital decreased their target price on Joint from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, May 9th. B. Riley cut their target price on Joint from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Joint presently has a consensus rating of "Buy" and an average price target of $16.33.

Insiders Place Their Bets

In other news, Director Christopher M. Grandpre bought 10,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was purchased at an average cost of $10.41 per share, for a total transaction of $104,100.00. Following the completion of the transaction, the director directly owned 39,383 shares of the company's stock, valued at approximately $409,977.03. This trade represents a 34.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 34,388 shares of company stock valued at $367,641 in the last three months. Corporate insiders own 27.90% of the company's stock.

Joint Stock Up 0.7%

JYNT stock traded up $0.07 during midday trading on Monday, reaching $10.74. The company had a trading volume of 49,852 shares, compared to its average volume of 73,189. The stock has a 50 day moving average price of $11.21 and a 200 day moving average price of $11.03. The Joint Corp. has a fifty-two week low of $9.58 and a fifty-two week high of $13.47. The firm has a market capitalization of $164.75 million, a PE ratio of -32.55 and a beta of 1.46.

Joint (NASDAQ:JYNT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $13.27 million during the quarter, compared to the consensus estimate of $13.32 million. Joint had a positive return on equity of 0.60% and a negative net margin of 7.02%. Research analysts predict that The Joint Corp. will post 0.11 EPS for the current year.

Joint declared that its board has initiated a stock buyback plan on Thursday, June 5th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.