Northern Trust Corp raised its stake in shares of Joint Corp (NASDAQ:JYNT) by 120.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,243 shares of the company’s stock after buying an additional 27,435 shares during the period. Northern Trust Corp owned approximately 0.36% of Joint worth $915,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in shares of Joint in the 1st quarter worth approximately $47,000. Strs Ohio acquired a new position in shares of Joint in the 2nd quarter worth approximately $63,000. Russell Investments Group Ltd. acquired a new position in shares of Joint in the 2nd quarter worth approximately $71,000. JPMorgan Chase & Co. grew its stake in shares of Joint by 110.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,828 shares of the company’s stock worth $158,000 after purchasing an additional 4,638 shares during the last quarter. Finally, Wells Fargo & Company MN acquired a new position in shares of Joint in the 2nd quarter worth approximately $227,000. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. TheStreet cut shares of Joint from a “b-” rating to a “c” rating in a research note on Tuesday, September 3rd. Maxim Group reissued a “buy” rating and issued a $25.00 target price on shares of Joint in a research report on Friday. DA Davidson reissued a “buy” rating on shares of Joint in a research report on Monday, November 4th. Zacks Investment Research raised shares of Joint from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, October 30th. Finally, BidaskClub raised shares of Joint from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Joint presently has a consensus rating of “Buy” and an average price target of $24.17.
Shares of JYNT stock traded down $0.66 during trading on Friday, hitting $19.15. 459,700 shares of the company were exchanged, compared to its average volume of 155,324. The firm has a market capitalization of $275.64 million, a price-to-earnings ratio of 478.75 and a beta of 1.01. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $18.82 and its 200 day simple moving average is $18.09. Joint Corp has a twelve month low of $6.51 and a twelve month high of $21.80.
Joint (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $12.73 million for the quarter, compared to analyst estimates of $11.60 million. Joint had a net margin of 5.38% and a return on equity of 114.93%. On average, equities analysts forecast that Joint Corp will post 0.2 earnings per share for the current fiscal year.
Joint Company Profile
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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