Joint (NASDAQ:JYNT) Announces Earnings Results, Misses Estimates By $0.02 EPS

Joint (NASDAQ:JYNT) released its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02), MarketWatch Earnings reports. Joint had a return on equity of 9.54% and a net margin of 2.81%. The company had revenue of $29.31 million during the quarter, compared to the consensus estimate of $29.85 million. Joint updated its FY 2023 guidance to EPS.

Joint Price Performance

Shares of NASDAQ JYNT opened at $9.69 on Friday. Joint has a fifty-two week low of $8.76 and a fifty-two week high of $20.00. The company has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $13.82. The company has a market capitalization of $142.25 million, a price-to-earnings ratio of 46.14 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JYNT. Maxim Group downgraded shares of Joint from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. StockNews.com began coverage on shares of Joint in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Roth Mkm decreased their target price on shares of Joint from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday.

Insider Activity at Joint

In other news, major shareholder Bandera Partners Llc purchased 16,673 shares of Joint stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average price of $13.07 per share, with a total value of $217,916.11. Following the completion of the transaction, the insider now directly owns 2,644,659 shares of the company’s stock, valued at $34,565,693.13. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 846,952 shares of company stock valued at $8,682,663 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Joint

Institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Joint by 17.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,550 shares of the company’s stock valued at $217,000 after acquiring an additional 2,343 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Joint in the third quarter worth approximately $172,000. Credit Suisse AG boosted its holdings in Joint by 11.3% in the second quarter. Credit Suisse AG now owns 10,842 shares of the company’s stock worth $167,000 after purchasing an additional 1,100 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Joint by 31.8% in the second quarter. Quantbot Technologies LP now owns 10,801 shares of the company’s stock worth $165,000 after purchasing an additional 2,605 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Joint by 6.0% in the second quarter. UBS Asset Management Americas Inc. now owns 10,467 shares of the company’s stock worth $160,000 after purchasing an additional 597 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.

Joint Company Profile

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.