Bank of New York Mellon Corp Reduces Holdings in The Joint Corp. (NASDAQ:JYNT)

Bank of New York Mellon Corp lessened its position in shares of The Joint Corp. (NASDAQ:JYNT) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,791 shares of the company’s stock after selling 1,394 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Joint worth $686,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sierra Summit Advisors LLC purchased a new stake in shares of Joint in the 4th quarter valued at approximately $652,000. Ancora Advisors LLC boosted its position in shares of Joint by 105.0% during the first quarter. Ancora Advisors LLC now owns 99,212 shares of the company’s stock worth $1,296,000 after buying an additional 50,815 shares during the period. First Foundation Advisors grew its stake in shares of Joint by 18.8% in the first quarter. First Foundation Advisors now owns 209,301 shares of the company’s stock valued at $2,733,000 after buying an additional 33,104 shares in the last quarter. Corsair Capital Management L.P. purchased a new stake in shares of Joint in the 4th quarter valued at $248,000. Finally, JCP Investment Management LLC lifted its stake in Joint by 15.3% during the 1st quarter. JCP Investment Management LLC now owns 112,800 shares of the company’s stock worth $1,473,000 after acquiring an additional 15,000 shares in the last quarter. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Joint Stock Performance

Shares of JYNT opened at $11.41 on Monday. The company’s 50-day simple moving average is $12.25 and its 200-day simple moving average is $13.27. The Joint Corp. has a 1 year low of $7.31 and a 1 year high of $17.82. The stock has a market capitalization of $170.85 million, a PE ratio of -15.21 and a beta of 1.58.

Joint (NASDAQ:JYNT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $30.26 million during the quarter, compared to analysts’ expectations of $29.65 million. Joint had a negative net margin of 12.00% and a positive return on equity of 2.17%. On average, sell-side analysts predict that The Joint Corp. will post 0.13 earnings per share 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.