Joint (NASDAQ:JYNT) PT Lowered to $16.00 at Roth Mkm

Posted by on Aug 14th, 2023

Joint (NASDAQ:JYNT – Free Report) had its target price reduced by Roth Mkm from $21.00 to $16.00 in a report released on Friday morning, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. StockNews.com began coverage on shares of Joint in a report on Thursday, May 18th. They set a hold rating on the stock. Maxim Group cut shares of Joint from a buy rating to a hold rating in a report on Friday.

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Joint Stock Down 20.4 %

Shares of NASDAQ JYNT opened at $10.06 on Friday. The stock has a market capitalization of $147.68 million, a P/E ratio of 41.92 and a beta of 1.40. The company has a 50-day moving average price of $13.35 and a 200-day moving average price of $14.93. Joint has a 1 year low of $9.23 and a 1 year high of $23.60. 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 Buying and Selling

In related news, major shareholder Bandera Partners Llc acquired 584,496 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $9.55 per share, with a total value of $5,581,936.80. Following the completion of the transaction, the insider now owns 3,466,560 shares in the company, valued at approximately $33,105,648. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 785,712 shares of company stock worth $8,191,930. 4.00% of the stock is owned by insiders.

Institutional Trading of Joint

Several hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in Joint by 6.0% in the second quarter. UBS Asset Management Americas Inc. now owns 10,467 shares of the company’s stock worth $160,000 after acquiring an additional 597 shares during the period. Thrivent Financial for Lutherans raised its position in Joint by 5.5% in the third quarter. Thrivent Financial for Lutherans now owns 14,984 shares of the company’s stock worth $235,000 after acquiring an additional 776 shares during the period. Renaissance Technologies LLC raised its position in shares of Joint by 0.7% in the third quarter. Renaissance Technologies LLC now owns 129,078 shares of the company’s stock valued at $2,028,000 after purchasing an additional 900 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Joint by 3.2% in the third quarter. Cubist Systematic Strategies LLC now owns 30,355 shares of the company’s stock valued at $477,000 after purchasing an additional 949 shares during the period. Finally, Mesirow Financial Investment Management Inc. raised its position in shares of Joint by 6.0% in the first quarter. Mesirow Financial Investment Management Inc. now owns 16,749 shares of the company’s stock valued at $282,000 after purchasing an additional 954 shares during the period. Institutional investors own 81.54% of the company’s stock.

Joint Company Profile

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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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