Dimensional Fund Advisors LP increased its holdings in shares of The Joint Corp. (NASDAQ:JYNT) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,805 shares of the company’s stock after purchasing an additional 7,877 shares during the period. Dimensional Fund Advisors LP’s holdings in The Joint were worth $2,726,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in JYNT. Morgan Stanley lifted its holdings in shares of The Joint by 42.3% during the 4th quarter. Morgan Stanley now owns 214,083 shares of the company’s stock valued at $5,621,000 after purchasing an additional 63,652 shares in the last quarter. Acuitas Investments LLC bought a new position in shares of The Joint during the 4th quarter valued at about $1,559,000. Renaissance Technologies LLC lifted its stake in The Joint by 36.8% in the 4th quarter. Renaissance Technologies LLC now owns 125,178 shares of the company’s stock valued at $3,287,000 after acquiring an additional 33,700 shares in the last quarter. BlackRock Inc. lifted its stake in The Joint by 2.9% in the 4th quarter. BlackRock Inc. now owns 1,002,072 shares of the company’s stock valued at $26,313,000 after acquiring an additional 28,478 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in The Joint by 26.3% in the 4th quarter. Wells Fargo & Company MN now owns 116,416 shares of the company’s stock valued at $3,057,000 after acquiring an additional 24,272 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
Shares of JYNT stock opened at $72.78 on Friday. The Joint Corp. has a twelve month low of $13.60 and a twelve month high of $74.70. The company has a market cap of $1.04 billion, a P/E ratio of 72.78 and a beta of 1.30. The stock’s fifty day simple moving average is $57.44.
Several equities research analysts have commented on JYNT shares. B. Riley boosted their target price on The Joint from $47.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. Zacks Investment Research raised The Joint from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, May 7th. DA Davidson boosted their price target on The Joint from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 10th. Maxim Group lowered The Joint from a “buy” rating to a “hold” rating in a research report on Thursday, June 3rd. They noted that the move was a valuation call. Finally, Lake Street Capital boosted their target price on The Joint from $35.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, March 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.67.
In other The Joint news, Director Glenn J. Krevlin sold 8,173 shares of the stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $42.90, for a total value of $350,621.70. Following the completion of the transaction, the director now directly owns 5,147 shares in the company, valued at $220,806.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald V. Davella sold 2,500 shares of the stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $42.44, for a total value of $106,100.00. Following the completion of the transaction, the director now owns 24,682 shares of the company’s stock, valued at $1,047,504.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 517,255 shares of company stock valued at $35,138,909. 4.60% of the stock is owned by corporate insiders.
The Joint Company Profile
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics in the United States. 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.
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