Joint Corp (NASDAQ:JYNT) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 1,225,600 shares, a growth of 25.5% from the May 30th total of 976,200 shares. Based on an average daily volume of 213,400 shares, the days-to-cover ratio is currently 5.7 days. Currently, 9.4% of the shares of the stock are sold short.
Several equities research analysts have weighed in on JYNT shares. TheStreet upgraded shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Friday, April 26th. B. Riley set a $13.00 price objective on shares of Vista Outdoor and gave the company a “buy” rating in a research report on Thursday, June 20th. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday. DA Davidson cut shares of Avon Products from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $4.75 to $3.60 in a research report on Thursday, May 23rd. Finally, Roth Capital cut shares of Cypress Semiconductor from a “buy” rating to a “neutral” rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.00.
In related news, Director Ronald V. Davella sold 10,190 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $16.46, for a total transaction of $167,727.40. Following the completion of the sale, the director now owns 15,457 shares in the company, valued at approximately $254,422.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James H. Amos, Jr. bought 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average price of $16.08 per share, with a total value of $64,320.00. Following the transaction, the director now directly owns 80,497 shares in the company, valued at $1,294,391.76. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. bought a new position in shares of Joint in the 1st quarter valued at about $47,000. Northern Trust Corp boosted its stake in shares of Joint by 16.1% in the 4th quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock valued at $138,000 after purchasing an additional 2,300 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new position in shares of Joint in the 1st quarter valued at about $158,000. Globeflex Capital L P bought a new position in shares of Joint in the 4th quarter valued at about $210,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Joint in the 1st quarter valued at about $302,000. 51.97% of the stock is currently owned by institutional investors.
JYNT traded down $0.36 during midday trading on Friday, hitting $19.41. The company had a trading volume of 260,400 shares, compared to its average volume of 157,047. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $261.23 million, a P/E ratio of 485.25, a PEG ratio of 9.17 and a beta of 0.97. Joint has a twelve month low of $6.51 and a twelve month high of $20.00. The firm has a 50-day moving average price of $17.22.
Joint (NASDAQ:JYNT) last issued its earnings results on Thursday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $10.68 million for the quarter, compared to analyst estimates of $8.90 million. Joint had a net margin of 4.50% and a return on equity of 109.02%. On average, research analysts anticipate that Joint will post 0.21 EPS for the current fiscal year.
Joint Company Profile
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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