Advisory Services Network LLC Takes $162,000 Position in Joint Corp (JYNT)

Advisory Services Network LLC bought a new position in shares of Joint Corp (NASDAQ:JYNT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,481 shares of the company’s stock, valued at approximately $162,000. Advisory Services Network LLC owned 0.14% of Joint as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bard Associates Inc. increased its position in shares of Joint by 12.7% in the 1st quarter. Bard Associates Inc. now owns 75,450 shares of the company’s stock valued at $517,000 after acquiring an additional 8,500 shares during the period. Deutsche Bank AG increased its position in shares of Joint by 3,839.1% in the 4th quarter. Deutsche Bank AG now owns 59,087 shares of the company’s stock valued at $293,000 after acquiring an additional 57,587 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Joint in the 4th quarter valued at $379,000. Boston Partners increased its position in shares of Joint by 48.0% in the 1st quarter. Boston Partners now owns 285,431 shares of the company’s stock valued at $1,955,000 after acquiring an additional 92,631 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Joint by 276.5% in the 2nd quarter. Acadian Asset Management LLC now owns 142,127 shares of the company’s stock valued at $1,162,000 after acquiring an additional 104,373 shares during the period. 52.32% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the company. Maxim Group reaffirmed a “buy” rating and set a $10.00 price target on shares of Joint in a research report on Friday, May 11th. ValuEngine raised Joint from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 15th. Roth Capital increased their price target on Joint from $7.75 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, June 7th. Finally, Zacks Investment Research downgraded Joint from a “hold” rating to a “sell” rating in a research report on Tuesday, June 12th. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $10.58.

Joint stock traded down $0.03 during midday trading on Friday, reaching $8.57. The company had a trading volume of 29,956 shares, compared to its average volume of 38,382. The firm has a market capitalization of $120.38 million, a PE ratio of -34.28 and a beta of 0.90. Joint Corp has a 12-month low of $3.91 and a 12-month high of $9.64. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75.

Joint (NASDAQ:JYNT) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $7.56 million during the quarter, compared to the consensus estimate of $7.62 million. Joint had a negative net margin of 3.72% and a negative return on equity of 34.99%. sell-side analysts predict that Joint Corp will post 0.06 EPS for the current fiscal year.

In other Joint news, CFO John P. Meloun sold 40,539 shares of the stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $8.01, for a total value of $324,717.39. Following the completion of the sale, the chief financial officer now owns 18,922 shares in the company, valued at approximately $151,565.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James H. Amos, Jr. acquired 10,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was acquired at an average price of $8.74 per share, with a total value of $87,400.00. Following the acquisition, the director now owns 72,797 shares in the company, valued at approximately $636,245.78. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.

About Joint

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics in the United States. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of December 31, 2017, the company operated 352 franchised clinics and 47 company-owned or managed clinics.

Further Reading: Leveraged Buyout (LBO) Explained

Institutional Ownership by Quarter for Joint (NASDAQ:JYNT)

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