Stonebridge Capital Advisors LLC acquired a new position in shares of Joint Corp (NASDAQ:JYNT) during the 1st quarter, HoldingsChannel reports. The firm acquired 10,000 shares of the company’s stock, valued at approximately $158,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Redmond Asset Management LLC raised its stake in Joint by 3.0% during the first quarter. Redmond Asset Management LLC now owns 53,285 shares of the company’s stock worth $839,000 after acquiring an additional 1,535 shares during the period. Northern Trust Corp raised its stake in Joint by 16.1% during the fourth quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock worth $138,000 after acquiring an additional 2,300 shares during the period. JPMorgan Chase & Co. acquired a new stake in Joint during the first quarter worth about $66,000. Globeflex Capital L P raised its stake in Joint by 26.5% during the first quarter. Globeflex Capital L P now owns 31,883 shares of the company’s stock worth $502,000 after acquiring an additional 6,678 shares during the period. Finally, Citigroup Inc. acquired a new stake in Joint during the first quarter worth about $133,000. Hedge funds and other institutional investors own 51.97% of the company’s stock.
In other Joint news, Director Ronald V. Davella sold 10,190 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $16.46, for a total value of $167,727.40. Following the sale, the director now owns 15,457 shares in the company, valued at $254,422.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Amos, Jr. purchased 4,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $16.08 per share, for a total transaction of $64,320.00. Following the purchase, the director now directly owns 80,497 shares of the company’s stock, valued at approximately $1,294,391.76. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by company insiders.
Joint (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. Joint had a net margin of 4.50% and a return on equity of 109.02%. The company had revenue of $10.68 million for the quarter, compared to analyst estimates of $8.90 million. Analysts predict that Joint Corp will post 0.22 EPS for the current year.
JYNT has been the topic of several research reports. TheStreet upgraded shares of Joint from a “d” rating to a “b” rating in a research note on Friday, April 26th. Zacks Investment Research lowered shares of Joint from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. Maxim Group reiterated a “buy” rating and set a $18.00 price objective (up previously from $11.00) on shares of Joint in a research note on Friday, March 8th. DA Davidson increased their price objective on shares of Joint to $15.00 and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, Lake Street Capital increased their price objective on shares of Joint to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $20.80.
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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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