Maxim Group lowered shares of Joint (NASDAQ:JYNT – Free Report) from a buy rating to a hold rating in a report released on Friday, MarketBeat reports.
Separately, StockNews.com started coverage on Joint in a research note on Thursday, May 18th. They issued a hold rating on the stock.
View Our Latest Stock Report on JYNT
Joint Price Performance
Insiders Place Their Bets
In related news, major shareholder Bandera Partners Llc bought 584,496 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $9.55 per share, for a total transaction of $5,581,936.80. Following the completion of the transaction, the insider now directly owns 3,466,560 shares in the company, valued at approximately $33,105,648. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 785,712 shares of company stock worth $8,191,930 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.
Institutional Investors Weigh In On Joint
A number of institutional investors and hedge funds have recently made changes to their positions in JYNT. Bandera Partners LLC raised its position in shares of Joint by 337.5% in the first quarter. Bandera Partners LLC now owns 1,000,000 shares of the company’s stock worth $35,390,000 after buying an additional 771,453 shares in the last quarter. Millennium Management LLC raised its position in shares of Joint by 158.8% in the fourth quarter. Millennium Management LLC now owns 562,444 shares of the company’s stock worth $7,863,000 after buying an additional 345,133 shares in the last quarter. O Brien Greene & Co. Inc raised its position in shares of Joint by 347.5% in the second quarter. O Brien Greene & Co. Inc now owns 273,060 shares of the company’s stock worth $3,687,000 after buying an additional 212,040 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Joint by 14,771.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,036 shares of the company’s stock worth $1,785,000 after buying an additional 105,323 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Joint in the second quarter valued at $1,161,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
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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