Glenn J. Krevlin‘s Glenhill Advisors has disclosed slightly raising its stake in Joint Corp (NASDAQ:JYNT). The fund purchased 2,246 shares of the company at $7.97 per unit. In this way, Glenhill currently holds around 1.20 million shares of the nano-cap chiropractic care company. The stake amasses over 12% of Joint Corp’s outstanding stock.
Joint Corp (NASDAQ:JYNT) went public in November 2014, and Glenhill Advisors disclosed a passive stake in the company soon after the IPO. Moreover, as the last round of 13F filings showed, Glenhill is also the largest shareholder of Joint Corp among institutional investor and the only shareholder among over 700 funds that we track. The company’s stock had a solid growth, gaining over 24% since the IPO.
The fact that Mr. Krevlin added Joint Corp (NASDAQ:JYNT) to his fund’s equity portfolio is no surprise, since the investor is mainly focused on companies with a smaller market capitalization. The fund employs a long/short strategy and as of the end of 2014, it has an equity portfolio valued at $1.27 billion, with services and technologies stocks amassing the largest shares.
Nevertheless, despite its focus on small cap companies, Glenhill’s largest holding at the end of 2014 was represented by SanDisk Corporation (NASDAQ:SNDK), a $17 billion manufacturer of storage devices. During the October-December period, Glenhill upped its stake in the company by 40% to 825,316 shares, valued at $80.86 million. So far, SanDisk Corporation (NASDAQ:SNDK)’s stock has not a bright beginning of the year as its slid by 19% amid disappointing financial results. The company posted a small revenue growth for the fourth quarter to $1.74 billion from $1.73 billion a year ago, but its net income decreased by 40% on the year to $201.9 million, on the back of supply problems. Investors seems to have anticipated a lag in sales, which is expected to go into 2015. Among funds that we track, the number of funds holding shares of SanDisk Corporation (NASDAQ:SNDK) declined to 58 from 61 and the amount of capital held by these funds fell to $2.76 billion, from $3.45 billion a quarter earlier. Billionaire Andreas Halvorsen of Viking Global is one of the investors that cut its stake in SanDisk Corporation (NASDAQ:SNDK) significantly during the fourth quarter, reporting ownership of 202,840 shares held at the end of 2014, versus 2.17 million shares in the previous quarter (when Viking initiated a position in SanDisk).