Insider Buying: Joint Corp (NASDAQ:JYNT) Director Acquires 4,000 Shares of Stock

Joint Corp (NASDAQ:JYNT) Director James H. Amos, Jr. bought 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $16.08 per share, for a total transaction of $64,320.00. Following the completion of the purchase, the director now owns 80,497 shares in the company, valued at $1,294,391.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ JYNT traded up $0.68 during mid-day trading on Monday, hitting $18.88. The company had a trading volume of 302,256 shares, compared to its average volume of 153,662. Joint Corp has a 1-year low of $6.51 and a 1-year high of $19.81. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.38. The stock has a market cap of $260.26 million, a P/E ratio of 472.00, a PEG ratio of 8.81 and a beta of 0.97. The business’s 50-day moving average price is $17.03.

Joint (NASDAQ:JYNT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06. The company had revenue of $10.68 million for the quarter, compared to analysts’ expectations of $8.90 million. Joint had a return on equity of 109.02% and a net margin of 4.50%. As a group, analysts expect that Joint Corp will post 0.21 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Joint from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a report on Tuesday, May 14th. B. Riley started coverage on Joint in a report on Thursday, June 20th. They issued a “buy” rating and a $23.00 price target for the company. Roth Capital boosted their price objective on Joint from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. DA Davidson set a $21.00 price objective on Joint and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, TheStreet upgraded Joint from a “d” rating to a “b” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Joint currently has an average rating of “Buy” and a consensus target price of $21.17.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JYNT. Nantahala Capital Management LLC grew its holdings in shares of Joint by 10.1% during the fourth quarter. Nantahala Capital Management LLC now owns 1,128,693 shares of the company’s stock worth $9,391,000 after buying an additional 103,972 shares during the last quarter. Granite Investment Partners LLC grew its holdings in shares of Joint by 87.7% during the first quarter. Granite Investment Partners LLC now owns 149,203 shares of the company’s stock worth $2,350,000 after buying an additional 69,711 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Joint by 13.9% during the first quarter. Acadian Asset Management LLC now owns 217,266 shares of the company’s stock worth $3,422,000 after buying an additional 26,564 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of Joint during the fourth quarter worth about $210,000. Finally, Tibra Equities Europe Ltd acquired a new stake in Joint in the first quarter valued at about $370,000. 51.97% of the stock is currently owned by hedge funds and other institutional investors.

About Joint

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates through two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of March 07, 2019, the company operated 450 clinics in the United States.

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