Avondale Wealth Management Purchases 12,500 Shares of The Joint Corp. (NASDAQ:JYNT)

Avondale Wealth Management grew its stake in shares of The Joint Corp. (NASDAQ:JYNT) by 192.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the company’s stock after purchasing an additional 12,500 shares during the period. Avondale Wealth Management owned approximately 0.13% of Joint worth $248,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Barclays PLC raised its holdings in Joint by 29.4% in the third quarter. Barclays PLC now owns 13,725 shares of the company’s stock worth $123,000 after buying an additional 3,119 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Joint by 43.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,506 shares of the company’s stock worth $148,000 after purchasing an additional 4,987 shares during the period. WINTON GROUP Ltd bought a new position in shares of Joint during the third quarter worth $179,000. Corsair Capital Management L.P. purchased a new stake in Joint during the fourth quarter valued at $248,000. Finally, Boston Partners purchased a new stake in Joint during the fourth quarter valued at $279,000. Institutional investors own 76.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on JYNT. StockNews.com upgraded shares of Joint from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price objective (up from $13.00) on shares of Joint in a research report on Friday, May 3rd. TheStreet lowered shares of Joint from a “c-” rating to a “d” rating in a research report on Thursday, March 7th. Finally, B. Riley lifted their target price on shares of Joint from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Joint Stock Performance

Joint stock traded up $0.26 during trading on Tuesday, reaching $13.97. The company had a trading volume of 63,721 shares, compared to its average volume of 84,851. The firm’s 50-day simple moving average is $14.56 and its 200 day simple moving average is $11.82. The Joint Corp. has a 1-year low of $7.31 and a 1-year high of $17.82. The firm has a market capitalization of $209.13 million, a PE ratio of -18.63 and a beta of 1.63.

Joint (NASDAQ:JYNT) last announced its earnings results on Thursday, May 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.09. Joint had a negative net margin of 9.24% and a positive return on equity of 3.94%. The company had revenue of $29.72 million for the quarter, compared to analysts’ expectations of $29.17 million. Analysts anticipate that The Joint Corp. will post 0.2 EPS for the current year.

Joint Profile

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.