Joint (NASDAQ:JYNT – Get Free Report) announced its earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02), MarketWatch Earnings reports. The business had revenue of $29.31 million for the quarter, compared to the consensus estimate of $29.85 million. Joint had a net margin of 3.41% and a return on equity of 11.38%. Joint updated its FY 2023 guidance to EPS.
Joint Price Performance
Joint stock traded down $0.13 during mid-day trading on Thursday, reaching $9.22. 166,522 shares of the company’s stock traded hands, compared to its average volume of 134,843. Joint has a 12-month low of $8.76 and a 12-month high of $20.00. The company has a market cap of $135.34 million, a price-to-earnings ratio of 37.79 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $11.63 and a two-hundred day moving average of $13.85.
In other news, major shareholder Bandera Partners Llc bought 6,999 shares of Joint stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average price of $13.06 per share, with a total value of $91,406.94. Following the completion of the purchase, the insider now owns 2,627,549 shares in the company, valued at approximately $34,315,789.94. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 846,952 shares of company stock valued at $8,682,663. 4.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Analyst Ratings Changes
JYNT has been the subject of several recent research reports. Maxim Group lowered shares of Joint from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Roth Mkm dropped their target price on shares of Joint from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday. Finally, StockNews.com started coverage on shares of Joint in a research report on Thursday, August 17th. They set a “hold” rating for the company.
Joint Company Profile
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and regional developers. As of March 1, 2022, the company operated approximately 700 locations in the United States.
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