Joint (NASDAQ:JYNT) Shares Pass Below 50-Day Moving Average - Time to Sell?

Key Points

• The Joint Corp. (NASDAQ:JYNT) shares fell below their 50-day moving average of $9.99, trading as low as $8.15 before closing at $8.29.
• Analysts have mixed views on the stock, with a price target decrease from B. Riley from $20.00 to $18.00, while Weiss Ratings issued a "sell" rating, resulting in a consensus rating of "Moderate Buy."
• Recent insider activity includes Director Christopher M. Grandpre purchasing 14,388 shares, raising insider ownership to 27.90% of the company's stock.

Shares of The Joint Corp. (NASDAQ:JYNT - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.99 and traded as low as $8.15. Joint shares last traded at $8.29, with a volume of 84,879 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JYNT shares. B. Riley lowered their price target on Joint from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Joint in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Joint has a consensus rating of "Moderate Buy" and an average price target of $16.33.

Joint Stock Down 1.9%

The stock has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $10.59. The company has a market cap of $127.17 million, a price-to-earnings ratio of -25.12 and a beta of 1.45.

Joint (NASDAQ:JYNT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.06) EPS 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 analysts' expectations of $13.32 million. As a group, equities research analysts expect that The Joint Corp. will post 0.11 EPS for the current fiscal year.

Insider Activity at Joint

In other Joint news, Director Christopher M. Grandpre purchased 14,388 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $10.88 per share, for a total transaction of $156,541.44. Following the completion of the purchase, the director owned 19,383 shares in the company, valued at $210,887.04. The trade was a 288.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 34,388 shares of company stock valued at $367,641 in the last 90 days. Insiders own 27.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of Joint by 5,141.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the company's stock worth $26,000 after acquiring an additional 2,211 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Joint by 32.3% in the second quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company's stock worth $86,000 after acquiring an additional 1,810 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Joint in the first quarter worth about $88,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Joint by 25.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company's stock valued at $95,000 after buying an additional 1,698 shares in the last quarter. Finally, Sanders Morris Harris LLC acquired a new stake in Joint during the second quarter valued at approximately $145,000. Institutional investors and hedge funds 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.

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