Nuveen LLC Buys New Shares in The Joint Corp. $JYNT

Nuveen LLC purchased a new position in shares of The Joint Corp. (NASDAQ:JYNT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68,889 shares of the company's stock, valued at approximately $860,000. Nuveen LLC owned 0.45% of Joint as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in JYNT. 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 valued at $54,000 after buying an additional 1,735 shares during the last quarter. Barclays PLC increased its position in shares of Joint by 6.9% in the fourth quarter. Barclays PLC now owns 27,380 shares of the company's stock worth $291,000 after acquiring an additional 1,771 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Joint by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 216,254 shares of the company's stock valued at $2,299,000 after purchasing an additional 10,074 shares in the last quarter. Northern Trust Corp grew its holdings in Joint by 4.1% during the 4th 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 in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Joint by 6.8% during the 4th quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company's stock valued at $255,000 after acquiring an additional 1,521 shares during the last quarter. Hedge funds and other institutional investors own 76.88% of the company's stock.

Analyst Upgrades and Downgrades

JYNT has been the topic of a number of recent research reports. B. Riley reduced their price target on shares of Joint from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Lake Street Capital lowered their price objective on shares of Joint from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $16.33.

Joint Stock Performance

Shares of Joint stock traded down $0.02 on Friday, reaching $10.64. The stock had a trading volume of 120,257 shares, compared to its average volume of 74,789. The business's 50-day moving average price is $11.13 and its two-hundred day moving average price is $11.01. The Joint Corp. has a fifty-two week low of $9.58 and a fifty-two week high of $13.47. The stock has a market cap of $163.25 million, a P/E ratio of -32.24 and a beta of 1.46.

Joint (NASDAQ:JYNT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $13.27 million during the quarter, compared to analysts' expectations of $13.32 million. Joint had a negative net margin of 7.02% and a positive return on equity of 0.60%. As a group, equities analysts forecast that The Joint Corp. will post 0.11 earnings per share for the current fiscal year.

Joint announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 5th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Christopher M. Grandpre acquired 10,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $10.41 per share, with a total value of $104,100.00. Following the acquisition, the director directly owned 39,383 shares in the company, valued at $409,977.03. The trade was a 34.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have bought 34,388 shares of company stock worth $367,641. 27.90% of the stock is owned by corporate insiders.

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.