Avondale Wealth Management Sells 13,750 Shares of The Joint Corp. (NASDAQ:JYNT)

Avondale Wealth Management lowered its stake in shares of The Joint Corp. (NASDAQ:JYNT) by 63.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,000 shares of the company’s stock after selling 13,750 shares during the quarter. Avondale Wealth Management’s holdings in Joint were worth $85,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC bought a new position in Joint during the 2nd quarter worth approximately $144,000. Sargent Investment Group LLC acquired a new stake in Joint in the second quarter worth $150,000. FMR LLC boosted its position in shares of Joint by 38.0% during the third quarter. FMR LLC now owns 10,787 shares of the company’s stock worth $123,000 after purchasing an additional 2,971 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Joint in the 2nd quarter valued at $174,000. Finally, Franklin Resources Inc. bought a new stake in shares of Joint in the 3rd quarter valued at $175,000. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JYNT has been the topic of several recent analyst reports. StockNews.com upgraded Joint from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Roth Mkm dropped their target price on shares of Joint from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

Joint Price Performance

JYNT stock traded up $0.03 during trading hours on Friday, reaching $10.20. 37,563 shares of the stock were exchanged, compared to its average volume of 33,861. The company has a market cap of $152.84 million, a price-to-earnings ratio of -8.95 and a beta of 1.60. The firm’s 50-day moving average is $11.08 and its 200-day moving average is $11.75. The Joint Corp. has a 12 month low of $8.94 and a 12 month high of $17.82.

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.