Insider Buying: Joint (NASDAQ:JYNT) Major Shareholder Acquires $130,874.50 in Stock

The Joint Corp. (NASDAQ:JYNT) major shareholder Charles Jobson bought 15,397 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average cost of $8.50 per share, with a total value of $130,874.50. Following the completion of the transaction, the insider owned 1,645,294 shares in the company, valued at approximately $13,984,999. This trade represents a 0.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Joint Stock Up 3.0%

NASDAQ:JYNT opened at $9.28 on Friday. The company has a market capitalization of $137.99 million, a PE ratio of -154.64 and a beta of 1.35. The Joint Corp. has a 52-week low of $7.50 and a 52-week high of $13.47. The stock’s 50 day moving average price is $9.28 and its 200 day moving average price is $9.31.

Hedge Funds Weigh In On Joint

A number of large investors have recently modified their holdings of the business. Skylands Capital LLC boosted its stake in shares of Joint by 6.9% in the fourth quarter. Skylands Capital LLC now owns 890,045 shares of the company’s stock valued at $7,761,000 after buying an additional 57,767 shares in the last quarter. JCP Investment Management LLC boosted its position in shares of Joint by 24.0% during the 3rd quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock worth $5,666,000 after purchasing an additional 115,062 shares in the last quarter. Topline Capital Management LLC boosted its position in shares of Joint by 18.7% during the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock worth $5,184,000 after purchasing an additional 70,910 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Joint by 17.6% during the 2nd quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock worth $3,986,000 after purchasing an additional 51,704 shares during the period. Finally, State Street Corp increased its holdings in shares of Joint by 0.8% in the 4th quarter. State Street Corp now owns 292,123 shares of the company’s stock valued at $2,547,000 after purchasing an additional 2,341 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JYNT has been the topic of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. B. Riley Financial downgraded shares of Joint from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

About Joint

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.