The Joint Corp. (NASDAQ:JYNT) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its position in The Joint Corp. (NASDAQ:JYNT - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,982 shares of the company's stock after acquiring an additional 25,863 shares during the quarter. Millennium Management LLC owned 0.54% of Joint worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Topline Capital Management LLC purchased a new position in shares of Joint in the fourth quarter valued at $3,458,000. Clayton Partners LLC lifted its position in Joint by 36.2% during the fourth quarter. Clayton Partners LLC now owns 310,000 shares of the company's stock valued at $3,295,000 after purchasing an additional 82,447 shares during the last quarter. Skylands Capital LLC grew its stake in shares of Joint by 10.9% in the 4th quarter. Skylands Capital LLC now owns 738,728 shares of the company's stock worth $7,853,000 after buying an additional 72,700 shares in the last quarter. O Brien Greene & Co. Inc increased its holdings in shares of Joint by 20.9% in the 4th quarter. O Brien Greene & Co. Inc now owns 144,620 shares of the company's stock worth $1,537,000 after buying an additional 25,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Joint by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 216,254 shares of the company's stock worth $2,299,000 after buying an additional 10,074 shares during the last quarter. Institutional investors own 76.88% of the company's stock.

Joint Stock Performance

JYNT traded up $0.59 during trading on Tuesday, hitting $12.51. 50,064 shares of the stock were exchanged, compared to its average volume of 53,891. The Joint Corp. has a 1 year low of $9.58 and a 1 year high of $15.32. The firm has a market cap of $191.44 million, a price-to-earnings ratio of -10.97 and a beta of 1.48. The firm has a 50 day simple moving average of $10.33 and a 200 day simple moving average of $10.92.

Joint (NASDAQ:JYNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $13.02 million. Joint had a positive return on equity of 8.24% and a negative net margin of 13.95%. As a group, equities analysts anticipate that The Joint Corp. will post 0.11 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JYNT. Wall Street Zen downgraded shares of Joint from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Lake Street Capital decreased their price objective on shares of Joint from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, May 9th.

Joint Company 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.