Joint (NASDAQ:JYNT) Stock Passes Above Fifty Day Moving Average – Time to Sell?
by Teresa Graham · The Cerbat GemShares of The Joint Corp. (NASDAQ:JYNT – Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $8.73 and traded as high as $8.87. Joint shares last traded at $8.64, with a volume of 26,212 shares changing hands.
Wall Street Analyst Weigh In
JYNT has been the topic of several analyst reports. Zacks Research cut Joint from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Joint in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.00.
Read Our Latest Stock Report on Joint
Joint Price Performance
The company has a fifty day moving average of $8.74 and a 200 day moving average of $8.79. The firm has a market capitalization of $129.17 million, a P/E ratio of 47.48 and a beta of 1.22.
Joint (NASDAQ:JYNT – Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Joint had a negative return on equity of 1.28% and a net margin of 4.99%.The business had revenue of $15.17 million for the quarter, compared to analysts’ expectations of $14.12 million. On average, sell-side analysts forecast that The Joint Corp. will post 0.31 EPS for the current year.
Insider Transactions at Joint
In other Joint news, major shareholder Charles E. Jobson purchased 15,397 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $8.50 per share, with a total value of $130,874.50. Following the completion of the purchase, the insider owned 1,645,294 shares in the company, valued at $13,984,999. This represents a 0.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 16,354 shares of company stock valued at $139,139 over the last quarter. 30.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Joint
Several institutional investors have recently added to or reduced their stakes in JYNT. JCP Investment Management LLC acquired a new position in Joint in the second quarter valued at approximately $5,526,000. Clayton Partners LLC acquired a new position in Joint in the fourth quarter valued at approximately $1,652,000. Russell Investments Group Ltd. lifted its stake in Joint by 77.3% in the fourth quarter. Russell Investments Group Ltd. now owns 205,411 shares of the company’s stock valued at $1,791,000 after buying an additional 89,526 shares during the period. First Foundation Advisors lifted its stake in Joint by 47.8% in the third quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock valued at $2,612,000 after buying an additional 88,486 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Joint in the fourth quarter valued at approximately $766,000. 76.88% of the stock is owned by institutional investors and hedge funds.
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.