Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Buys 2,825 Shares of Company Stock

Key Points

• Major shareholder Charles Jobson bought 2,825 Joint shares at an average $6.65 each, spending about $18,786. He now directly owns approximately 20.32 million shares.
• Joint reported quarterly EPS of $0.10, beating the $0.08 consensus, while revenue of $13.55 million fell short of analysts’ $14.85 million estimate.
• Analyst sentiment was cautious: the stock had a consensus “Reduce” rating and an $8 price target, while shares traded at $6.94 in Friday’s midday session.

The Joint Corp. (NASDAQ:JYNT - Get Free Report) major shareholder Charles Jobson purchased 2,825 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average price of $6.65 per share, with a total value of $18,786.25. Following the completion of the purchase, the insider directly owned 20,322,974 shares of the company's stock, valued at approximately $135,147,777.10. This represents a 0.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Joint Trading Up 3.7%

Joint stock traded up $0.25 during midday trading on Friday, hitting $6.94. The stock had a trading volume of 61,872 shares, compared to its average volume of 80,915. The stock has a market cap of $95.01 million, a P/E ratio of 34.70 and a beta of 1.16. The Joint Corp. has a 12 month low of $6.52 and a 12 month high of $10.67. The business has a fifty day moving average price of $7.53 and a 200 day moving average price of $8.47.

Joint (NASDAQ:JYNT - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $13.55 million for the quarter, compared to analysts' expectations of $14.85 million. Joint had a return on equity of 22.11% and a net margin of 4.81%. On average, equities analysts anticipate that The Joint Corp. will post 0.31 EPS for the current fiscal year.

Institutional Trading of Joint

Several hedge funds have recently bought and sold shares of the company. Skylands Capital LLC increased its stake in shares of Joint by 5.6% in the third quarter. Skylands Capital LLC now owns 946,045 shares of the company's stock valued at $7,001,000 after purchasing an additional 50,473 shares during the period. BlackRock Inc. bought a new stake in shares of Joint during the second quarter valued at approximately $2,534,000. Dimensional Fund Advisors LP boosted its position in shares of Joint by 37.4% during the first quarter. Dimensional Fund Advisors LP now owns 153,754 shares of the company's stock worth $1,361,000 after buying an additional 41,842 shares during the period. Verus Capital Partners LLC boosted its position in shares of Joint by 23.6% during the first quarter. Verus Capital Partners LLC now owns 130,705 shares of the company's stock worth $1,157,000 after buying an additional 24,929 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Joint by 35.5% during the second quarter. Squarepoint Ops LLC now owns 105,467 shares of the company's stock worth $926,000 after buying an additional 27,633 shares during the period. 76.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Joint from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. B. Riley Financial lowered their target price on shares of Joint from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Wall Street Zen cut shares of Joint from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $8.00.

About Joint

The Joint Corp. operates and franchises The Joint Chiropractic, a network of clinics providing chiropractic care in the United States. Its clinics offer services such as spinal adjustments and other chiropractic treatments focused on musculoskeletal health and wellness. The company's business model emphasizes convenient access to care, with options that include walk-in visits and recurring membership plans. The Joint Corp. was established in 2010 and is headquartered in Scottsdale, Arizona.

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