The Joint Corp. (NASDAQ:JYNT) Sees Significant Decline in Short Interest

The Joint Corp. (NASDAQ:JYNT) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 487,300 shares, a decrease of 7.7% from the October 15th total of 528,100 shares. Based on an average daily trading volume, of 48,800 shares, the days-to-cover ratio is currently 10.0 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on JYNT. StockNews.com raised Joint from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Roth Mkm reduced their target price on Joint from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JYNT. Los Angeles Capital Management LLC purchased a new position in shares of Joint during the 2nd quarter worth $1,115,000. Clayton Partners LLC lifted its stake in shares of Joint by 38.1% during the 2nd quarter. Clayton Partners LLC now owns 186,500 shares of the company’s stock worth $2,622,000 after purchasing an additional 51,500 shares during the period. Ancora Advisors LLC lifted its stake in shares of Joint by 105.0% during the 1st quarter. Ancora Advisors LLC now owns 99,212 shares of the company’s stock worth $1,296,000 after purchasing an additional 50,815 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Joint by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 394,478 shares of the company’s stock worth $5,546,000 after purchasing an additional 20,400 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Joint by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 194,139 shares of the company’s stock worth $2,730,000 after purchasing an additional 17,268 shares during the period. Hedge funds and other institutional investors own 76.88% of the company’s stock.

Joint Stock Performance

JYNT stock opened at $10.95 on Wednesday. Joint has a 1 year low of $8.38 and a 1 year high of $17.82. The firm has a market cap of $164.03 million, a P/E ratio of -9.47 and a beta of 1.57. The stock’s 50 day moving average price is $11.31 and its 200 day moving average price is $12.93.

Joint Company 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.