Joint Corp (JYNT) Downgraded to Hold at Zacks Investment Research
According to Zacks, “The Joint Corp. is a healthcare franchisor of chiropractic clinics. The Company’s plans include: Single Visit, Premium Wellness Plan and Wellness Plan. It also provides a family wellness plan. The Company also provides removal of subluxations. It operates its clinics across: Albany, New York; Austin, Texas; Brentwood, California; Fort Mill, South Carolina; Lubbock, Texas; Lynnwood, Washington; Middletown, New Jersey; San Antonio, Texas; San Diego, California and Spartanburg, South Carolina, among others. The Joint Corp. is headquartered in Scottsdale, Arizona. “
JYNT has been the subject of a number of other research reports. Feltl & Co. cut shares of Joint Corp from a strong-buy rating to a buy rating in a research note on Friday, June 24th. Maxim Group cut their price target on shares of Joint Corp from $8.00 to $5.00 and set a buy rating for the company in a research note on Friday, July 1st.
Joint Corp (NASDAQ:JYNT) opened at 2.47 on Wednesday. Joint Corp has a one year low of $1.85 and a one year high of $7.90. The company’s market capitalization is $31.45 million. The company has a 50-day moving average price of $2.54 and a 200-day moving average price of $2.74.
Joint Corp (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $5 million for the quarter, compared to the consensus estimate of $3.40 million. Equities research analysts anticipate that Joint Corp will post ($0.97) EPS for the current year.
In related news, CEO Peter D. Holt purchased 30,000 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was acquired at an average price of $2.66 per share, with a total value of $79,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $26,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds have recently modified their holdings of JYNT. Emerald Acquisition Ltd. bought a new stake in shares of Joint Corp during the second quarter worth $108,000. Boston Partners raised its stake in shares of Joint Corp by 1.1% in the second quarter. Boston Partners now owns 108,550 shares of the company’s stock worth $220,000 after buying an additional 1,170 shares in the last quarter. Skylands Capital LLC raised its stake in Joint Corp by 12.1% in the second quarter. Skylands Capital LLC now owns 380,734 shares of the company’s stock worth $773,000 after buying an additional 40,950 shares in the last quarter. Finally, Sanders Morris Harris Inc. raised its stake in Joint Corp by 7.0% in the second quarter. Sanders Morris Harris Inc. now owns 2,063,581 shares of the company’s stock worth $4,189,000 after buying an additional 134,753 shares in the last quarter.
Joint Corp Company Profile
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.
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