Joint (NASDAQ:JYNT) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Joint (NASDAQ:JYNT) has received a "sell (E+)" rating from Weiss Ratings, while B. Riley downgraded its price target from $20.00 to $18.00, maintaining a "buy" rating.
• The stock has a consensus rating of "Moderate Buy" with a price target of $16.33, and currently trades around $8.78, significantly lower than its 1-year high of $13.47.
• Insider activity saw Director Christopher M. Grandpre purchasing 10,000 shares, increasing his position by 34.03%, while institutional investors hold 76.88% of the stock.

Joint (NASDAQ:JYNT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, B. Riley reduced their price objective on Joint from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.33.

Joint Price Performance

JYNT opened at $8.78 on Wednesday. The stock has a 50-day moving average price of $10.32 and a 200-day moving average price of $10.77. The firm has a market cap of $134.69 million, a PE ratio of -26.61 and a beta of 1.45. Joint has a 1 year low of $8.62 and a 1 year high of $13.47.

Joint (NASDAQ:JYNT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.32 million. As a group, sell-side analysts anticipate that Joint will post 0.11 EPS for the current year.

Insider Activity

In other news, Director Christopher M. Grandpre purchased 10,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $10.41 per share, for a total transaction of $104,100.00. Following the purchase, the director directly owned 39,383 shares in the company, valued at $409,977.03. This trade represents a 34.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 34,388 shares of company stock worth $367,641. Insiders own 27.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JYNT. Nisa Investment Advisors LLC grew its stake in shares of Joint by 5,141.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company's stock valued at $26,000 after acquiring an additional 2,211 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Joint by 32.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company's stock valued at $86,000 after acquiring an additional 1,810 shares during the period. MetLife Investment Management LLC bought a new position in shares of Joint during the 1st quarter valued at approximately $88,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Joint by 25.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company's stock valued at $95,000 after acquiring an additional 1,698 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Joint during the 2nd quarter valued at approximately $145,000. 76.88% of the stock is currently owned by institutional investors.

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.

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