Published On: Thu, Sep 15th, 2016

Joint Corp (JYNT) Trading Down 2.7%

Joint Corp (NASDAQ:JYNT) shares fell 2.7% during mid-day trading on Thursday . The stock traded as low as $2.40 and last traded at $2.52, with a volume of 63,731 shares. The stock had previously closed at $2.59.
Several brokerages have recently issued reports on JYNT. Zacks Investment Research upgraded Joint Corp from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Wednesday, August 17th. Maxim Group reduced their price objective on Joint Corp from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Finally, Feltl & Co. cut Joint Corp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 24th.
The company’s 50 day moving average price is $2.42 and its 200-day moving average price is $2.92. The firm’s market cap is $30.94 million.

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Joint Corp (NASDAQ:JYNT) last issued its earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $5 million for the quarter, compared to analysts’ expectations of $3.40 million. Analysts expect that Joint Corp will post ($0.97) EPS for the current fiscal year.
In other news, major shareholder Glenhill Advisors Llc acquired 80,069 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was purchased at an average cost of $1.97 per share, with a total value of $157,735.93. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Peter D. Holt acquired 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was purchased at an average cost of $2.66 per share, with a total value of $79,800.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $26,600. The disclosure for this purchase can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris Inc. increased its position in Joint Corp by 7.0% in the second quarter. Sanders Morris Harris Inc. now owns 2,063,581 shares of the company’s stock valued at $4,189,000 after buying an additional 134,753 shares during the last quarter. Skylands Capital LLC increased its position in Joint Corp by 12.1% in the second quarter. Skylands Capital LLC now owns 380,734 shares of the company’s stock valued at $773,000 after buying an additional 40,950 shares during the last quarter. Boston Partners increased its position in Joint Corp by 1.1% in the second quarter. Boston Partners now owns 108,550 shares of the company’s stock valued at $220,000 after buying an additional 1,170 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Joint Corp during the second quarter valued at $108,000.
About Joint Corp
The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.

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