Joint (NASDAQ:JYNT) Major Shareholder Charles Jobson Purchases 127,676 Shares

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson purchased 127,676 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the purchase, the insider directly owned 1,773,479 shares in the company, valued at approximately $15,198,715.03. This represents a 7.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Joint Price Performance

JYNT traded down $0.09 during midday trading on Thursday, hitting $8.21. 62,310 shares of the company’s stock traded hands, compared to its average volume of 61,837. The company has a market cap of $117.03 million, a PE ratio of 35.70 and a beta of 1.11. The stock’s fifty day simple moving average is $8.68 and its 200-day simple moving average is $8.82. The Joint Corp. has a one year low of $7.50 and a one year high of $13.47.

Joint (NASDAQ:JYNT) last posted its earnings results on Thursday, May 7th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. Joint had a net margin of 5.72% and a return on equity of 7.00%. The company had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.50 million. On average, research analysts expect that The Joint Corp. will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Joint

A number of institutional investors and hedge funds have recently bought and sold shares of JYNT. Dimensional Fund Advisors LP boosted its holdings in Joint by 37.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 153,754 shares of the company’s stock valued at $1,361,000 after purchasing an additional 41,842 shares during the period. Strs Ohio grew its position in Joint by 17,300.0% in the 1st quarter. Strs Ohio now owns 17,400 shares of the company’s stock worth $154,000 after purchasing an additional 17,300 shares during the last quarter. Skylands Capital LLC increased its holdings in shares of Joint by 0.4% during the 1st quarter. Skylands Capital LLC now owns 893,195 shares of the company’s stock worth $7,905,000 after purchasing an additional 3,150 shares during the period. XTX Topco Ltd acquired a new position in shares of Joint during the fourth quarter valued at about $124,000. Finally, Clayton Partners LLC acquired a new position in shares of Joint during the fourth quarter valued at about $1,652,000. Institutional investors own 76.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Joint from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Joint from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Joint from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Joint presently has an average rating of “Hold” and an average price target of $18.00.

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.