The Joint Corp. (NASDAQ:JYNT) announced its quarterly earnings results on Thursday. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01, Morningstar.com reports. The business had revenue of $6.02 million for the quarter, compared to analyst estimates of $5.76 million. The Joint Corp. had a negative return on equity of 99.52% and a negative net margin of 60.62%.

The Joint Corp. (NASDAQ:JYNT) traded down 0.81% during midday trading on Friday, hitting $3.69. The stock had a trading volume of 26,811 shares. The company’s market capitalization is $48.27 million. The Joint Corp. has a 52 week low of $1.96 and a 52 week high of $4.74. The company’s 50-day moving average price is $3.74 and its 200 day moving average price is $3.86.

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JYNT has been the subject of several research analyst reports. Zacks Investment Research upgraded The Joint Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Maxim Group reiterated a “buy” rating and issued a $7.00 price objective on shares of The Joint Corp. in a research report on Friday. Roth Capital initiated coverage on The Joint Corp. in a research report on Thursday, July 27th. They issued a “buy” rating and a $5.70 price objective for the company. Craig Hallum initiated coverage on The Joint Corp. in a research report on Wednesday, June 14th. They issued a “buy” rating and a $5.75 price objective for the company. Finally, ValuEngine upgraded The Joint Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The Joint Corp. currently has a consensus rating of “Buy” and an average price target of $5.61.

In related news, CFO John P. Meloun bought 6,850 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was acquired at an average cost of $3.69 per share, with a total value of $25,276.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James H. Amos, Jr. bought 10,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average cost of $3.85 per share, with a total value of $38,500.00. Following the completion of the transaction, the director now owns 57,295 shares in the company, valued at $220,585.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 20,670 shares of company stock valued at $78,140. 6.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in JYNT. Sanders Morris Harris LLC raised its position in shares of The Joint Corp. by 0.5% in the second quarter. Sanders Morris Harris LLC now owns 2,619,807 shares of the company’s stock valued at $9,955,000 after buying an additional 12,000 shares in the last quarter. Sanders Morris Harris Inc. raised its position in shares of The Joint Corp. by 0.3% in the first quarter. Sanders Morris Harris Inc. now owns 2,607,807 shares of the company’s stock valued at $10,952,000 after buying an additional 7,200 shares in the last quarter. Skylands Capital LLC raised its position in shares of The Joint Corp. by 4.1% in the first quarter. Skylands Capital LLC now owns 565,229 shares of the company’s stock valued at $2,374,000 after buying an additional 22,500 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of The Joint Corp. during the second quarter valued at about $791,000. Finally, Boston Partners raised its position in shares of The Joint Corp. by 13.1% in the second quarter. Boston Partners now owns 150,900 shares of the company’s stock valued at $573,000 after buying an additional 17,500 shares in the last quarter. 45.91% of the stock is owned by institutional investors and hedge funds.

About The Joint Corp.

The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.

Earnings History for The Joint Corp. (NASDAQ:JYNT)

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