Bank of Montreal Can grew its holdings in shares of Joint Corp (NASDAQ:JYNT) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,082 shares of the company’s stock after purchasing an additional 4,367 shares during the period. Bank of Montreal Can owned approximately 0.58% of Joint worth $1,143,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Aigen Investment Management LP raised its stake in Joint by 85.9% in the 1st quarter. Aigen Investment Management LP now owns 2,418 shares of the company’s stock worth $26,000 after acquiring an additional 1,117 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Joint in the 1st quarter worth $47,000. Citigroup Inc. raised its stake in Joint by 42.7% in the 1st quarter. Citigroup Inc. now owns 3,738 shares of the company’s stock worth $41,000 after acquiring an additional 1,119 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Joint by 120.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,019 shares of the company’s stock worth $44,000 after acquiring an additional 2,200 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Joint in the 2nd quarter worth $112,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.
NASDAQ:JYNT opened at $17.88 on Wednesday. Joint Corp has a 52 week low of $7.67 and a 52 week high of $21.75. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $250.52 million, a PE ratio of 89.40 and a beta of 1.18. The stock’s 50-day moving average price is $16.95 and its 200-day moving average price is $14.12.
Joint (NASDAQ:JYNT) last posted its earnings results on Thursday, August 6th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.07. Joint had a return on equity of 47.43% and a net margin of 5.38%. The firm had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $10.13 million. Sell-side analysts expect that Joint Corp will post 0.19 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on JYNT shares. Zacks Investment Research upgraded Joint from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Saturday, August 8th. Craig Hallum began coverage on Joint in a research report on Thursday, June 25th. They set a “buy” rating and a $24.00 price target on the stock. Maxim Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Joint in a research report on Friday, August 7th. ValuEngine raised Joint from a “hold” rating to a “buy” rating in a research report on Wednesday, July 8th. Finally, DA Davidson increased their price target on Joint from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $20.60.
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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