Joint (NASDAQ:JYNT) Releases Earnings Results, Misses Estimates By $0.02 EPS

Joint (NASDAQ:JYNT) announced its quarterly earnings results on Wednesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02), MarketWatch Earnings reports. Joint had a net margin of 3.41% and a return on equity of 11.38%. The firm had revenue of $29.31 million during the quarter, compared to the consensus estimate of $29.85 million. Joint updated its FY 2023 guidance to EPS.

Joint Trading Down 1.4 %

NASDAQ JYNT traded down $0.13 on Thursday, reaching $9.22. The company had a trading volume of 171,072 shares, compared to its average volume of 134,859. The firm has a market cap of $135.34 million, a price-to-earnings ratio of 37.79 and a beta of 1.44. Joint has a fifty-two week low of $8.76 and a fifty-two week high of $20.00. The business has a 50 day moving average of $11.63 and a two-hundred day moving average of $13.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94.

Insider Activity at Joint

In other Joint news, major shareholder Bandera Partners Llc purchased 584,496 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $9.55 per share, for a total transaction of $5,581,936.80. Following the acquisition, the insider now owns 3,466,560 shares in the company, valued at approximately $33,105,648. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 846,952 shares of company stock worth $8,682,663 over the last three months. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Joint

A number of large investors have recently bought and sold shares of JYNT. Swiss National Bank grew its stake in shares of Joint by 8.6% in the 1st quarter. Swiss National Bank now owns 34,100 shares of the company’s stock valued at $1,207,000 after buying an additional 2,700 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Joint by 8.2% in the 1st quarter. JPMorgan Chase & Co. now owns 16,212 shares of the company’s stock valued at $574,000 after buying an additional 1,228 shares during the period. Citigroup Inc. grew its stake in shares of Joint by 26.6% in the 1st quarter. Citigroup Inc. now owns 13,870 shares of the company’s stock valued at $491,000 after buying an additional 2,915 shares during the period. Acadian Asset Management LLC grew its stake in shares of Joint by 22.4% in the 1st quarter. Acadian Asset Management LLC now owns 8,946 shares of the company’s stock valued at $315,000 after buying an additional 1,640 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Joint by 58.0% in the 1st quarter. MetLife Investment Management LLC now owns 8,041 shares of the company’s stock valued at $285,000 after buying an additional 2,953 shares during the period. 87.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on JYNT shares. Roth Mkm dropped their price target on Joint from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com assumed coverage on Joint in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Maxim Group downgraded Joint from a “buy” rating to a “hold” rating in a report on Friday, August 11th.

About Joint

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.