Jersey Mike’s (NYSE:JMKE – Get Free Report) major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of Jersey Mike’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total value of $56,210,436.00. Following the sale, the insider owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock 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 Down 1.4%
NYSE JMKE opened at $22.00 on Friday. Jersey Mike’s has a 12 month low of $20.63 and a 12 month high of $24.99.
Key Headlines Impacting Jersey Mike’s
- Positive Sentiment: Loop Capital reportedly set a bullish $40 price target for Jersey Mike’s, substantially above recent trading levels. The firm’s outlook is likely supporting the stock’s long-term growth narrative. Loop Capital sets $40 Jersey Mike’s stock price target
- Positive Sentiment: New coverage from Jefferies, Wells Fargo and RBC adds institutional attention. RBC assigned a “moderate buy” rating, while other recently reported analyst targets generally range from $25 to $29, above the stock’s recent level. RBC analyst coverage
- Positive Sentiment: Zacks Research upgraded Jersey Mike’s to “hold,” which is not bullish but represents a more favorable stance than a sell rating and may provide some downside support. Zacks Research
- Neutral Sentiment: Jefferies, Wells Fargo and other firms have initiated research coverage following Jersey Mike’s public-market debut. The broad coverage could improve visibility, but many ratings and targets are still being established rather than reflecting new operating results. Jefferies initiates coverage
- Negative Sentiment: Blackstone II Holdings L.P. reported selling 2,572,560 shares at an average of $21.85, reducing its disclosed position by 94.71%. A separate filing attributed to Submarine Buyer LLC reports the same transaction, so the filings may represent related ownership entities rather than two entirely separate sales. SEC shareholder sale filing
- Negative Sentiment: Abu Dhabi Investment Authority also sold 382,134 shares worth approximately $8.35 million, trimming its ownership by 1.06%. The combined disclosures create near-term supply and confidence concerns, helping explain why JMKE has decreased even as analysts remain broadly optimistic. Abu Dhabi Investment Authority SEC filing
Wall Street Analysts Forecast Growth
A number of brokerages have commented on JMKE. JPMorgan Chase & Co. started coverage on shares of Jersey Mike’s in a research note on Monday. They issued an “overweight” rating and a $26.00 target price on the stock. Melius Research initiated coverage on Jersey Mike’s in a report on Thursday, July 30th. They issued a “buy” rating and a $30.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $27.00 price target for the company. UBS Group set a $27.00 price objective on Jersey Mike’s and gave the stock a “buy” rating in a report on Monday. Finally, Mizuho assumed coverage on Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $31.00 target price for the company. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.35.
Get Our Latest Research Report on Jersey Mike’s
Jersey Mike’s Company Profile
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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