Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Acquires 15,397 Shares of Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson purchased 15,397 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of $8.50 per share, for a total transaction of $130,874.50. Following the purchase, the insider owned 1,645,294 shares in the company, valued at $13,984,999. This trade represents a 0.94% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Joint Price Performance

JYNT stock traded up $0.24 during midday trading on Tuesday, reaching $8.92. 51,131 shares of the company were exchanged, compared to its average volume of 57,714. The firm has a market capitalization of $132.64 million, a price-to-earnings ratio of -148.64 and a beta of 1.35. The business has a 50-day moving average price of $9.28 and a two-hundred day moving average price of $9.31. The Joint Corp. has a one year low of $7.50 and a one year high of $13.47.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. B. Riley Financial downgraded Joint from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Hedge Funds Weigh In On Joint

Several hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Joint by 28.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,504 shares of the company’s stock worth $232,000 after buying an additional 5,800 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Joint by 77.3% during the fourth quarter. Russell Investments Group Ltd. now owns 205,411 shares of the company’s stock worth $1,791,000 after acquiring an additional 89,526 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Joint in the fourth quarter worth about $766,000. Barclays PLC increased its position in Joint by 5.3% during the 4th quarter. Barclays PLC now owns 32,235 shares of the company’s stock worth $281,000 after purchasing an additional 1,623 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Joint by 88.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,621 shares of the company’s stock valued at $581,000 after purchasing an additional 31,282 shares during the last quarter. Institutional investors own 76.88% of the company’s stock.

Joint Company Profile

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.