Joint (NASDAQ:JYNT) issued its earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01), Morningstar.com reports. Joint had a negative net margin of 3.72% and a negative return on equity of 34.99%. The company had revenue of $8.06 million during the quarter, compared to analyst estimates of $7.98 million. Joint updated its FY 2018 guidance to EPS.
NASDAQ:JYNT traded down $0.08 during trading hours on Friday, reaching $7.90. 117,539 shares of the company’s stock were exchanged, compared to its average volume of 39,735. The stock has a market cap of $104.46 million, a P/E ratio of -31.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. Joint has a 1-year low of $4.65 and a 1-year high of $9.64.
In related news, Director Ronald V. Davella sold 9,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $8.54, for a total transaction of $76,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Amos, Jr. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $8.74 per share, with a total value of $87,400.00. Following the purchase, the director now owns 72,797 shares in the company, valued at $636,245.78. The disclosure for this purchase can be found here. 3.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Bandera Partners LLC acquired a new stake in Joint during the 2nd quarter worth $10,669,000. Nantahala Capital Management LLC purchased a new position in Joint during the 2nd quarter worth $4,375,000. Renaissance Technologies LLC raised its position in Joint by 107.8% during the 2nd quarter. Renaissance Technologies LLC now owns 260,891 shares of the company’s stock worth $2,134,000 after buying an additional 135,331 shares during the last quarter. Acadian Asset Management LLC raised its position in Joint by 25.1% during the 3rd quarter. Acadian Asset Management LLC now owns 177,843 shares of the company’s stock worth $1,522,000 after buying an additional 35,716 shares during the last quarter. Finally, Granahan Investment Management Inc. MA purchased a new position in Joint during the 2nd quarter worth $1,325,000. Hedge funds and other institutional investors own 51.87% of the company’s stock.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Joint from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a report on Wednesday, August 15th. Roth Capital reiterated a “buy” rating on shares of Joint in a research note on Friday, August 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Joint presently has an average rating of “Buy” and an average target price of $10.58.
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The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics in the United States. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of August 9, 2018, the company operated approximately 400 clinics. The company was founded in 2010 and is headquartered in Scottsdale, Arizona.
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