Christopher Grandpre Acquires 14,388 Shares of Joint (NASDAQ:JYNT) Stock

The Joint Corp. (NASDAQ:JYNT) Director Christopher Grandpre acquired 14,388 shares of Joint stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average price of $10.88 per share, with a total value of $156,541.44. Following the completion of the acquisition, the director directly owned 19,383 shares in the company, valued at $210,887.04. This represents a 288.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Joint Stock Performance

NASDAQ JYNT opened at $10.26 on Thursday. The Joint Corp. has a one year low of $9.58 and a one year high of $13.47. The stock has a 50-day moving average of $11.33 and a 200 day moving average of $11.08. The company has a market capitalization of $157.39 million, a price-to-earnings ratio of -31.09 and a beta of 1.53.

Joint (NASDAQ:JYNT) 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. On average, equities analysts predict that The Joint Corp. will post 0.11 earnings per share for the current fiscal year.

Joint announced that its board has initiated a share buyback plan on Thursday, June 5th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Joint

Large investors have recently made changes to their positions in the company. JCP Investment Management LLC purchased a new position in shares of Joint during the 2nd quarter valued at about $5,526,000. Alta Fox Capital Management LLC purchased a new position in shares of Joint during the 1st quarter valued at about $5,035,000. Topline Capital Management LLC purchased a new position in shares of Joint during the 4th quarter valued at about $3,458,000. Nuveen LLC purchased a new position in shares of Joint during the 1st quarter valued at about $860,000. Finally, Geode Capital Management LLC lifted its position in shares of Joint by 17.6% during the 2nd quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after buying an additional 51,704 shares in the last quarter. 76.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. B. Riley cut their price target on Joint from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Lake Street Capital cut their price target on Joint from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $16.33.

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.