Joint (NASDAQ:JYNT) posted its quarterly earnings data on Thursday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01), Morningstar.com reports. Joint had a negative net margin of 3.72% and a negative return on equity of 34.99%. The business had revenue of $8.06 million during the quarter, compared to the consensus estimate of $7.98 million. Joint updated its FY 2018 guidance to EPS.
Shares of JYNT traded down $0.08 during mid-day trading on Friday, hitting $7.90. The company’s stock had a trading volume of 117,539 shares, compared to its average volume of 39,735. Joint has a one year low of $4.65 and a one year 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. The stock has a market capitalization of $104.46 million, a price-to-earnings ratio of -31.60 and a beta of 1.02.
In related news, Director Ronald V. Davella sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $8.54, for a total value of $76,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James H. Amos, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $8.74 per share, with a total value of $87,400.00. Following the completion of the purchase, the director now directly owns 72,797 shares of the company’s stock, 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.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management Inc. MA acquired a new position in shares of Joint in the second quarter valued at $1,325,000. Tower Research Capital LLC TRC raised its stake in shares of Joint by 20,991.5% in the second quarter. Tower Research Capital LLC TRC now owns 12,444 shares of the company’s stock valued at $102,000 after purchasing an additional 12,385 shares in the last quarter. Bandera Partners LLC acquired a new position in shares of Joint in the second quarter valued at $10,669,000. Acadian Asset Management LLC raised its stake in shares of Joint by 276.5% in the second quarter. Acadian Asset Management LLC now owns 142,127 shares of the company’s stock valued at $1,162,000 after purchasing an additional 104,373 shares in the last quarter. Finally, Redmond Asset Management LLC acquired a new position in shares of Joint in the second quarter valued at $408,000. Institutional investors and hedge funds own 51.87% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Joint from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Wednesday, August 15th. Roth Capital reissued a “buy” rating on shares of Joint in a research report on Friday, August 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.58.
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Joint Company Profile
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 August 9, 2018, the company operated approximately 400 clinics. The company was founded in 2010 and is headquartered in Scottsdale, Arizona.
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