Joint (NASDAQ:JYNT) Major Shareholder Charles Jobson Acquires 236,116 Shares of Stock

Key Points

• Major shareholder Charles Jobson bought 236,116 shares at an average $6.65 each, spending about $1.57 million. His holdings rose 13.16% to 2.03 million shares.
• Joint reported quarterly earnings of $0.10 per share, beating the $0.08 estimate, but revenue of $13.55 million fell short of analysts’ $14.85 million forecast.
• Analyst sentiment was cautious: MarketBeat reported a consensus “Reduce” rating and an $8 price target. Shares traded at $6.69, down 1.6% that day.

The Joint Corp. (NASDAQ:JYNT - Get Free Report) major shareholder Charles Jobson acquired 236,116 shares of the company's stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $1,570,171.40. Following the acquisition, the insider owned 2,030,149 shares in the company, valued at approximately $13,500,490.85. This trade represents a 13.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Joint Trading Down 1.6%

NASDAQ:JYNT traded down $0.11 during mid-day trading on Thursday, hitting $6.69. The stock had a trading volume of 59,150 shares, compared to its average volume of 80,984. The stock has a market capitalization of $91.59 million, a price-to-earnings ratio of 33.45 and a beta of 1.16. The company has a 50 day simple moving average of $7.56 and a 200-day simple moving average of $8.48. The Joint Corp. has a 52 week low of $6.52 and a 52 week high of $10.67.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on JYNT. Weiss Ratings raised Joint from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday. Wall Street Zen downgraded Joint from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 16th. Finally, B. Riley Financial reduced their price target on Joint from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Monday. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $8.00.

Hedge Funds Weigh In On Joint

Large investors have recently bought and sold shares of the stock. R Squared Ltd boosted its holdings in shares of Joint by 40.3% in the third quarter. R Squared Ltd now owns 14,910 shares of the company's stock valued at $110,000 after acquiring an additional 4,284 shares in the last quarter. Skylands Capital LLC raised its holdings in Joint by 5.6% during the third quarter. Skylands Capital LLC now owns 946,045 shares of the company's stock worth $7,001,000 after purchasing an additional 50,473 shares in the last quarter. Squarepoint Ops LLC raised its holdings in 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 purchasing an additional 27,633 shares in the last quarter. Susquehanna International Group LLP lifted its position in Joint by 161.3% in the second quarter. Susquehanna International Group LLP now owns 43,138 shares of the company's stock worth $379,000 after purchasing an additional 26,626 shares during the period. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in Joint in the second quarter worth approximately $19,059,000. Institutional investors and hedge funds own 76.88% of the company's stock.

Joint Company Profile

The Joint Corp. NASDAQ: JYNT is a healthcare services company that operates The Joint Chiropractic, a network of chiropractic clinics in the United States. The company focuses on providing routine chiropractic care intended to support musculoskeletal health, mobility and general wellness. The Joint Chiropractic clinics offer services such as chiropractic adjustments and related wellness care. The business model is designed to provide convenient, accessible care through walk-in visits, membership plans and prepaid packages, with an emphasis on transparent pricing and extended operating hours.

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