Jersey Mike’s (NYSE:JMKE) Major Shareholder Sells 2,572,560 Shares of Stock

Jersey Mike’s (NYSE:JMKE) major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the completion of the transaction, the insider owned 143,699 shares in the company, valued at $3,139,823.15. This represents a 94.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings L.P. Blackstone II also recently made the following trade(s):

• On Friday, July 31st, Holdings L.P. Blackstone II sold 29,695,652 shares of Jersey Mike’s stock. The stock was sold at an average price of $21.85, for a total transaction of $648,849,996.20.

Jersey Mike’s Stock Performance

Shares of JMKE stock traded up $0.15 during trading on Wednesday, hitting $22.36. 1,877,973 shares of the company were exchanged, compared to its average volume of 3,252,663. Jersey Mike’s has a twelve month low of $20.63 and a twelve month high of $24.99.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group set a $27.00 target price on shares of Jersey Mike’s and gave the company a “buy” rating in a research note on Monday. Guggenheim assumed coverage on shares of Jersey Mike’s in a research note on Monday. They issued a “buy” rating and a $28.00 price target on the stock. JPMorgan Chase & Co. started coverage on Jersey Mike’s in a report on Monday. They set an “overweight” rating and a $26.00 price objective for the company. Melius Research initiated coverage on Jersey Mike’s in a research report on Thursday, July 30th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company began coverage on Jersey Mike’s in a research report on Monday. They set an “equal weight” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.35.

More Jersey Mike’s News

Here are the key news stories impacting Jersey Mike’s this week:

• Positive Sentiment: New bullish coverage: Tigress Financial initiated coverage with a Buy rating and a $29 price target, implying roughly 31% upside from the stock’s recent level. Benzinga article
• Positive Sentiment: Raymond James began coverage with a Moderate Buy rating and a $29 target, adding to the growing group of analysts expecting meaningful appreciation. Benzinga article
• Positive Sentiment: Coverage was also initiated by Guggenheim, Truist Financial, Deutsche Bank, Mizuho, Bernstein, Stifel, TD Cowen, BTIG, Piper Sandler, Robert W. Baird, and Morgan Stanley. The breadth of coverage increases institutional visibility for JMKE. Guggenheim article
• Positive Sentiment: Recent bullish targets include $28 from RBC and $27-$29 from Jefferies, UBS, and Bank of America. Analysts cite Jersey Mike’s scalable, high-margin franchise model and substantial domestic and international expansion opportunity. Proactive Investors article
• Positive Sentiment: Analysts have suggested Jersey Mike’s could eventually challenge Subway as the leading sandwich chain, reinforcing the long-term growth narrative. MSN article

About Jersey Mike’s

We are Jersey Mike’s: A high-growth franchisor of fast casual, submarine-style sandwich restaurants specializing in authentic, hand-crafted, craveable subs. Built over 70 years on one uncompromising belief – that a truly great sub sandwich can change your day and that a truly great brand changes its community – Jersey Mike’s is now one of the largest and fastest-growing limited-service restaurant brands based on U.S. systemwide sales and unit growth, with 3,300 stores across all 50 states and two countries – nearly all of which are franchised.