Stonebridge Capital Advisors LLC cut its stake in shares of Joint Corp (NASDAQ:JYNT) by 50.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the company’s stock after selling 5,000 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Joint were worth $91,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Joint during the second quarter valued at $567,000. Cubist Systematic Strategies LLC bought a new stake in Joint in the 2nd quarter worth about $268,000. Morgan Stanley increased its holdings in Joint by 1,673.2% in the 2nd quarter. Morgan Stanley now owns 183,772 shares of the company’s stock worth $3,344,000 after buying an additional 173,408 shares in the last quarter. Vanguard Group Inc. increased its holdings in Joint by 42.0% in the 2nd quarter. Vanguard Group Inc. now owns 538,070 shares of the company’s stock worth $9,793,000 after buying an additional 159,034 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Joint by 1,199.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,767 shares of the company’s stock worth $32,000 after buying an additional 1,631 shares in the last quarter. Hedge funds and other institutional investors own 62.76% of the company’s stock.
Several equities research analysts recently commented on JYNT shares. TheStreet downgraded Joint from a “b-” rating to a “c” rating in a report on Tuesday, September 3rd. ValuEngine downgraded Joint from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 20th. Zacks Investment Research downgraded Joint from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. B. Riley set a $23.00 price objective on Joint and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Maxim Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Joint in a report on Friday, August 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.83.
Joint (NASDAQ:JYNT) last announced its earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $11.17 million for the quarter, compared to analysts’ expectations of $11.08 million. Joint had a return on equity of 114.93% and a net margin of 5.38%. As a group, equities research analysts anticipate that Joint Corp will post 0.2 EPS for the current year.
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates through two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of March 07, 2019, the company operated 450 clinics in the United States.
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