Jersey Mike’s (NYSE:JMKE – Get Free Report) major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $21.85, for a total value of $96,381,748.40. Following the completion of the transaction, the insider directly owned 36,114,272 shares in the company, valued at approximately $789,096,843.20. This trade represents a 10.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Jersey Mike’s Stock Performance
JMKE opened at $24.41 on Tuesday. Jersey Mike’s has a 52 week low of $20.63 and a 52 week high of $24.99.
Analyst Upgrades and Downgrades
Separately, Melius Research began coverage on Jersey Mike’s in a research note on Thursday, July 30th. They set a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $30.00.
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.
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