Joint (NASDAQ:JYNT) Rating Lowered to Hold at StockNews.com

Joint (NASDAQ:JYNT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Joint Stock Up 2.5 %

JYNT opened at $11.30 on Monday. The firm has a 50 day moving average price of $11.11 and a 200-day moving average price of $11.15. Joint has a twelve month low of $9.58 and a twelve month high of $17.82. The stock has a market capitalization of $169.32 million, a price-to-earnings ratio of -9.91 and a beta of 1.61.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in shares of Joint by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 5,088 shares of the company’s stock valued at $54,000 after purchasing an additional 1,735 shares during the last quarter. FMR LLC increased its holdings in Joint by 38.0% during the third quarter. FMR LLC now owns 10,787 shares of the company’s stock valued at $123,000 after buying an additional 2,971 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Joint during the third quarter valued at approximately $175,000. Sanders Morris Harris LLC purchased a new stake in Joint during the fourth quarter valued at approximately $228,000. Finally, BNP Paribas Financial Markets increased its holdings in Joint by 6.8% during the fourth quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company’s stock valued at $255,000 after buying an additional 1,521 shares during the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

About Joint

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.