Franklin Resources Inc. Invests $175,000 in The Joint Corp. (NASDAQ:JYNT)

Franklin Resources Inc. purchased a new stake in shares of The Joint Corp. (NASDAQ:JYNT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,687 shares of the company’s stock, valued at approximately $175,000. Franklin Resources Inc. owned approximately 0.11% of Joint at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of JYNT. Squarepoint Ops LLC bought a new position in Joint in the second quarter valued at about $144,000. Sargent Investment Group LLC acquired a new position in Joint during the 2nd quarter valued at about $150,000. FMR LLC boosted its stake in shares of Joint by 38.0% in the 3rd quarter. FMR LLC now owns 10,787 shares of the company’s stock valued at $123,000 after purchasing an additional 2,971 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Joint during the 2nd quarter worth approximately $174,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Joint by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 22,510 shares of the company’s stock worth $258,000 after buying an additional 1,156 shares during the last quarter. Institutional investors own 76.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com upgraded Joint from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Roth Mkm decreased their target price on Joint from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Joint Trading Down 1.9 %

JYNT stock opened at $10.43 on Friday. The business’s 50 day simple moving average is $11.16 and its 200 day simple moving average is $11.87. The Joint Corp. has a 1-year low of $8.88 and a 1-year high of $17.82. The firm has a market capitalization of $156.28 million, a PE ratio of -9.15 and a beta of 1.57.

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.