Joint (NASDAQ:JYNT) Director Christopher M. Grandpre Buys 10,000 Shares

Key Points

• Christopher Grandpre, Director of The Joint Corp., purchased 10,000 shares at an average price of $10.70, totaling $107,000, increasing his ownership by 51.59% to 29,383 shares.
• The Joint Corp. reported a quarterly EPS of (-$0.06), exceeding analyst expectations, with revenues of $13.27 million, slightly below estimates.
• The company's Board of Directors authorized a $5 million share repurchase plan, indicating a belief that the stock is undervalued.

The Joint Corp. (NASDAQ:JYNT - Get Free Report) Director Christopher M. Grandpre acquired 10,000 shares of Joint stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $10.70 per share, with a total value of $107,000.00. Following the completion of the purchase, the director owned 29,383 shares in the company, valued at $314,398.10. The trade was a 51.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Joint Trading Up 1.4%

JYNT stock traded up $0.15 during mid-day trading on Friday, reaching $10.61. The company's stock had a trading volume of 230,786 shares, compared to its average volume of 58,913. The company's 50 day moving average is $11.28 and its two-hundred day moving average is $11.06. 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 $162.76 million, a PE ratio of -32.15 and a beta of 1.53.

Joint (NASDAQ:JYNT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. Joint had a positive return on equity of 0.60% and a negative net margin of 7.02%.The company had revenue of $13.27 million for the quarter, compared to analyst estimates of $13.32 million. On average, analysts forecast that The Joint Corp. will post 0.11 earnings per share for the current fiscal year.

Joint announced that its board has approved a share buyback plan on Thursday, June 5th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Foundation Advisors grew its holdings in shares of Joint by 21.0% in the first quarter. First Foundation Advisors now owns 157,904 shares of the company's stock valued at $1,972,000 after purchasing an additional 27,444 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Joint by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 216,254 shares of the company's stock valued at $2,299,000 after buying an additional 10,074 shares during the period. Northern Trust Corp grew its stake in shares of Joint by 4.1% in the fourth quarter. Northern Trust Corp now owns 131,313 shares of the company's stock worth $1,396,000 after acquiring an additional 5,220 shares in the last quarter. Wells Fargo & Company MN grew its stake 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 in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Joint by 6.8% during the fourth quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company's stock worth $255,000 after acquiring an additional 1,521 shares during the period. Hedge funds and other institutional investors own 76.88% of the company's stock.

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.