Joint (NASDAQ:JYNT) Share Price Crosses Above 50-Day Moving Average - Should You Sell?

Key Points

• Shares crossed above its 50-day moving average—JYNT traded as high as $8.91 versus a 50-day MA of $8.84 and last traded at $8.82 on volume of 27,210 shares, with a market cap of about $126.3M and a P/E of 46.42.
• Analysts are mixed but the consensus is a "Moderate Buy" with a $17.00 price target; the company recently beat quarterly estimates (EPS $0.07 vs. $0.05; revenue $15.17M vs. $14.12M) and is forecast to earn about $0.11 per share this year.
• Insiders and institutions increased exposure: major shareholder Charles E. Jobson bought 16,753 shares (raising his stake to 1,638,424), insiders own 27.9% of the stock, and institutional ownership is reported at roughly 76.9%.

The Joint Corp. (NASDAQ:JYNT - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.84 and traded as high as $8.91. Joint shares last traded at $8.82, with a volume of 27,210 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Joint in a research note on Thursday, January 22nd. Zacks Research raised shares of Joint from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Joint presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Joint Trading Down 1.2%

The business's 50 day moving average price is $8.84 and its two-hundred day moving average price is $8.84. The stock has a market cap of $126.30 million, a P/E ratio of 46.42 and a beta of 1.22.

Joint (NASDAQ:JYNT - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Joint had a net margin of 4.99% and a negative return on equity of 1.28%. The business had revenue of $15.17 million for the quarter, compared to analysts' expectations of $14.12 million. As a group, analysts expect that The Joint Corp. will post 0.11 earnings per share for the current year.

Insider Activity

In other Joint news, major shareholder Charles E. Jobson bought 16,753 shares of the stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $167,530.00. Following the completion of the acquisition, the insider owned 1,638,424 shares of the company's stock, valued at approximately $16,384,240. This trade represents a 1.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 32,598 shares of company stock worth $302,302 in the last ninety days. 27.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joint

Large investors have recently made changes to their positions in the business. JCP Investment Management LLC lifted its holdings in shares of Joint by 24.0% during the third quarter. JCP Investment Management LLC now owns 593,906 shares of the company's stock valued at $5,666,000 after purchasing an additional 115,062 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Joint by 88.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 66,621 shares of the company's stock worth $581,000 after buying an additional 31,282 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Joint by 13.9% during the second quarter. American Century Companies Inc. now owns 27,572 shares of the company's stock valued at $318,000 after buying an additional 3,366 shares during the last quarter. Rhumbline Advisers increased its position in shares of Joint by 25.9% during the second quarter. Rhumbline Advisers now owns 20,934 shares of the company's stock valued at $242,000 after acquiring an additional 4,307 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Joint by 78.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,476 shares of the company's stock valued at $135,000 after acquiring an additional 6,784 shares in the last quarter. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

About Joint

The Joint Chiropractic, Inc, doing business as Joint NASDAQ: JYNT, is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint's growth strategy centers on partnering with franchisees to expand its network of clinics.

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