Shares of The Joint Corp. (NASDAQ:JYNT – Get Rating) have been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.25.
A number of brokerages recently issued reports on JYNT. Roth Capital reduced their target price on Joint from $75.00 to $40.00 in a research note on Monday, May 9th. Lake Street Capital dropped their target price on Joint from $100.00 to $50.00 in a research report on Friday, May 6th. Zacks Investment Research cut Joint from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Craig Hallum lowered shares of Joint from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $30.00 in a research note on Friday, May 6th. Finally, DA Davidson lowered shares of Joint from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $69.00 to $13.00 in a research report on Monday, May 9th.
JYNT opened at $16.78 on Thursday. Joint has a one year low of $14.09 and a one year high of $111.06. The stock has a market cap of $242.64 million, a price-to-earnings ratio of 54.13 and a beta of 1.31. The stock’s 50 day moving average price is $28.24 and its 200-day moving average price is $48.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.25 and a current ratio of 1.25.
In other Joint news, major shareholder Bandera Partners Llc purchased 22,187 shares of the stock in a transaction dated Tuesday, May 24th. The shares were acquired at an average cost of $14.98 per share, for a total transaction of $332,361.26. Following the completion of the transaction, the insider now directly owns 2,105,075 shares of the company’s stock, valued at $31,534,023.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter D. Holt acquired 1,500 shares of Joint stock in a transaction that occurred on Wednesday, March 16th. The shares were purchased at an average cost of $33.24 per share, for a total transaction of $49,860.00. The disclosure for this purchase can be found here. Insiders have acquired 210,691 shares of company stock worth $3,387,056 over the last 90 days. 3.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in JYNT. Bandera Partners LLC lifted its stake in shares of Joint by 337.5% during the first quarter. Bandera Partners LLC now owns 1,000,000 shares of the company’s stock valued at $35,390,000 after buying an additional 771,453 shares during the period. General Equity Holdings LP purchased a new position in Joint during the first quarter worth approximately $7,186,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Joint during the first quarter worth approximately $6,094,000. Next Century Growth Investors LLC raised its stake in Joint by 39.9% during the first quarter. Next Century Growth Investors LLC now owns 478,340 shares of the company’s stock worth $16,928,000 after purchasing an additional 136,466 shares during the period. Finally, BlackRock Inc. raised its stake in Joint by 5.7% during the third quarter. BlackRock Inc. now owns 2,129,733 shares of the company’s stock worth $208,758,000 after purchasing an additional 115,571 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.
Joint Company Profile (Get Rating)
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and regional developers. As of March 1, 2022, the company operated approximately 700 locations in the United States.
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