Joint (NASDAQ:JYNT) Director Christopher Grandpre Purchases 14,388 Shares

Key Points

• Joint Corp. Director Christopher Grandpre purchased 14,388 shares at an average cost of $10.88 each, totaling $156,541.44, resulting in a 288.05% increase in his holdings.
• The company recently authorized a $5 million stock repurchase plan, indicating management's belief that the stock may be undervalued.
• Joint Corp. reported quarterly earnings with an EPS of ($0.06), slightly beating analyst estimates, and had a revenue of $13.27 million, just shy of the consensus estimate.

The Joint Corp. (NASDAQ:JYNT - Get Free Report) Director Christopher Grandpre bought 14,388 shares of Joint stock in a transaction dated Friday, August 15th. The stock was acquired at an average cost of $10.88 per share, with a total value of $156,541.44. Following the transaction, the director owned 19,383 shares of the company's stock, valued at $210,887.04. This trade represents a 288.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Joint Stock Performance

NASDAQ:JYNT traded down $0.38 during mid-day trading on Tuesday, reaching $10.17. 45,636 shares of the company's stock were exchanged, compared to its average volume of 59,589. The Joint Corp. has a one year low of $9.58 and a one year high of $13.47. The firm has a market capitalization of $156.04 million, a PE ratio of -30.82 and a beta of 1.53. The business's fifty day simple moving average is $11.41 and its two-hundred day simple moving average is $11.09.

Joint (NASDAQ:JYNT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. Joint had a negative net margin of 7.02% and a positive return on equity of 0.64%. The firm had revenue of $13.27 million during the quarter, compared to the consensus estimate of $13.32 million. As a group, equities research analysts forecast that The Joint Corp. will post 0.11 EPS for the current year.

Joint announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 5th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Institutional Trading of Joint

Several institutional investors and hedge funds have recently modified their holdings of JYNT. JCP Investment Management LLC acquired a new position in shares of Joint during the second quarter worth $5,526,000. Topline Capital Management LLC grew its position in Joint by 18.7% during the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company's stock worth $5,184,000 after acquiring an additional 70,910 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company's stock worth $95,000 after purchasing an additional 1,698 shares in the last quarter. American Century Companies Inc. raised its position in Joint by 13.9% in the second quarter. American Century Companies Inc. now owns 27,572 shares of the company's stock valued at $318,000 after purchasing an additional 3,366 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Joint by 25.9% in the second quarter. Rhumbline Advisers now owns 20,934 shares of the company's stock valued at $242,000 after purchasing an additional 4,307 shares during the last quarter. 76.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.

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