Sanders Morris Harris LLC Trims Holdings in Joint Corp (NASDAQ:JYNT)

Sanders Morris Harris LLC decreased its stake in shares of Joint Corp (NASDAQ:JYNT) by 52.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 645,940 shares of the company’s stock after selling 718,257 shares during the quarter. Joint comprises 4.9% of Sanders Morris Harris LLC’s holdings, making the stock its 5th largest position. Sanders Morris Harris LLC owned 4.70% of Joint worth $10,174,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Joint by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 276,974 shares of the company’s stock valued at $2,368,000 after acquiring an additional 18,099 shares during the period. Vanguard Group Inc increased its position in Joint by 7.0% in the 3rd quarter. Vanguard Group Inc now owns 276,974 shares of the company’s stock valued at $2,368,000 after acquiring an additional 18,099 shares during the period. Acadian Asset Management LLC increased its position in Joint by 7.2% in the 4th quarter. Acadian Asset Management LLC now owns 190,702 shares of the company’s stock valued at $1,585,000 after acquiring an additional 12,859 shares during the period. Northern Trust Corp increased its position in Joint by 16.1% in the 4th quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock valued at $138,000 after acquiring an additional 2,300 shares during the period. Finally, Alambic Investment Management L.P. acquired a new position in Joint in the 4th quarter valued at about $152,000. Hedge funds and other institutional investors own 44.23% of the company’s stock.

NASDAQ JYNT traded up $1.79 on Friday, hitting $19.19. 701,845 shares of the company’s stock were exchanged, compared to its average volume of 97,431. Joint Corp has a fifty-two week low of $6.51 and a fifty-two week high of $19.81. The stock has a market capitalization of $239.87 million, a price-to-earnings ratio of 479.75, a PEG ratio of 8.49 and a beta of 0.86.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.06. Joint had a return on equity of 39.20% and a net margin of 0.80%. The company had revenue of $10.68 million for the quarter, compared to analysts’ expectations of $8.90 million. As a group, research analysts predict that Joint Corp will post 0.2 earnings per share for the current year.

JYNT has been the topic of several recent research reports. TheStreet upgraded Joint from a “d” rating to a “b” rating in a research report on Friday, April 26th. DA Davidson initiated coverage on Joint in a research report on Thursday, January 17th. They issued a “buy” rating and a $10.00 price target on the stock. Lake Street Capital boosted their price target on Joint to $20.00 and gave the company a “buy” rating in a research report on Friday, March 8th. Maxim Group restated a “buy” rating and issued a $18.00 price target (up previously from $11.00) on shares of Joint in a research report on Friday, March 8th. Finally, Zacks Investment Research upgraded Joint from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.95.

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About Joint

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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Institutional Ownership by Quarter for Joint (NASDAQ:JYNT)

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