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

Millennium Management LLC lifted its position in shares of The Joint Corp. (NASDAQ:JYNT - Free Report) by 46.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,982 shares of the company's stock after purchasing an additional 25,863 shares during the quarter. Millennium Management LLC owned 0.54% of Joint worth $861,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position 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 worth $54,000 after acquiring an additional 1,735 shares during the period. BNP Paribas Financial Markets raised its holdings in Joint by 6.8% in the 4th quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company's stock worth $255,000 after purchasing an additional 1,521 shares during the period. Barclays PLC boosted its position 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 purchasing an additional 1,771 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Joint by 9.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,204 shares of the company's stock valued at $385,000 after purchasing an additional 3,029 shares during the period. Finally, Northern Trust Corp grew its holdings in Joint by 4.1% in the fourth quarter. Northern Trust Corp now owns 131,313 shares of the company's stock valued at $1,396,000 after purchasing an additional 5,220 shares during the period. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JYNT has been the topic of several research analyst reports. Lake Street Capital dropped their target price on shares of Joint from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Joint from a "buy" rating to a "hold" rating in a report on Monday, March 17th.

Joint Price Performance

JYNT traded down $0.30 during trading hours on Friday, reaching $12.01. The company's stock had a trading volume of 52,055 shares, compared to its average volume of 53,882. The stock has a market cap of $183.79 million, a PE ratio of -10.54 and a beta of 1.48. The Joint Corp. has a fifty-two week low of $9.58 and a fifty-two week high of $15.32. The business's 50-day moving average is $10.34 and its 200-day moving average is $10.92.

Joint (NASDAQ:JYNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). Joint had a negative net margin of 13.95% and a positive return on equity of 8.24%. The company had revenue of $13.08 million during the quarter, compared to analyst estimates of $13.02 million. Analysts expect that The Joint Corp. will post 0.11 EPS for the current year.

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

About Joint

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.