Bandera Partners LLC Acquires 50,044 Shares of The Joint Corp. (NASDAQ:JYNT)

Bandera Partners LLC grew its holdings in The Joint Corp. (NASDAQ:JYNT) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,649,195 shares of the company’s stock after purchasing an additional 50,044 shares during the period. Joint makes up 15.2% of Bandera Partners LLC’s investment portfolio, making the stock its 2nd largest position. Bandera Partners LLC owned 18.05% of Joint worth $35,764,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Boston Partners lifted its stake in Joint by 21.4% during the 2nd quarter. Boston Partners now owns 29,534 shares of the company’s stock worth $399,000 after acquiring an additional 5,210 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Joint by 40.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 98,416 shares of the company’s stock worth $1,329,000 after purchasing an additional 28,170 shares during the period. Citigroup Inc. purchased a new stake in Joint during the 2nd quarter worth about $57,000. Dimensional Fund Advisors LP increased its holdings in Joint by 23.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 264,560 shares of the company’s stock worth $3,572,000 after purchasing an additional 49,488 shares during the period. Finally, BNP Paribas Arbitrage SNC increased its holdings in Joint by 15.1% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 23,893 shares of the company’s stock worth $323,000 after purchasing an additional 3,143 shares during the period. Institutional investors and hedge funds own 87.61% of the company’s stock.

Joint Stock Performance

Joint stock traded up $0.12 during mid-day trading on Monday, reaching $8.60. 15,252 shares of the company were exchanged, compared to its average volume of 139,852. The Joint Corp. has a twelve month low of $7.31 and a twelve month high of $20.00. The firm’s 50-day simple moving average is $8.57 and its two-hundred day simple moving average is $11.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 1.03. The firm has a market cap of $126.88 million, a PE ratio of 65.23 and a beta of 1.44.

Joint (NASDAQ:JYNT) last posted its quarterly earnings data on Wednesday, September 13th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Joint had a return on equity of 5.60% and a net margin of 1.69%. The company had revenue of $29.31 million for the quarter, compared to analyst estimates of $29.85 million. Equities analysts predict that The Joint Corp. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on JYNT shares. Lake Street Capital cut their price target on Joint from $50.00 to $30.00 in a report on Monday, September 18th. StockNews.com started coverage on Joint in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Roth Mkm dropped their price objective on Joint from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, September 14th. Maxim Group downgraded Joint from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Craig Hallum started coverage on Joint in a report on Tuesday, September 19th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.00.

Insider Activity

In other Joint news, major shareholder Bandera Partners Llc purchased 16,462 shares of Joint stock in a transaction dated Friday, August 25th. The stock was acquired at an average cost of $9.54 per share, with a total value of $157,047.48. Following the acquisition, the insider now directly owns 3,508,983 shares of the company’s stock, valued at $33,475,697.82. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders acquired 136,644 shares of company stock valued at $1,280,467 in the last three months. 4.00% of the stock is currently owned by company insiders.

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.