Submarine Buyer Llc Sells 2,572,560 Shares of Jersey Mike’s (NYSE:JMKE) Stock

Jersey Mike’s (NYSE:JMKE) major shareholder Submarine Buyer Llc sold 2,572,560 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares in the company, valued at $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Submarine Buyer Llc also recently made the following trade(s):

• On Friday, July 31st, Submarine Buyer Llc sold 29,695,652 shares of Jersey Mike’s stock. The stock was sold at an average price of $21.85, for a total value of $648,849,996.20.

Jersey Mike’s Stock Performance

JMKE stock traded up $0.15 during midday trading on Wednesday, reaching $22.36. The stock had a trading volume of 1,877,973 shares, compared to its average volume of 3,252,663. Jersey Mike’s has a 52-week low of $20.63 and a 52-week high of $24.99.

Jersey Mike’s News Summary

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JMKE. JPMorgan Chase & Co. assumed coverage on Jersey Mike’s in a research note on Monday. They issued an “overweight” rating and a $26.00 price objective for the company. BTIG Research began coverage on Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $28.00 target price on the stock. Guggenheim assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $28.00 price target on the stock. Wall Street Zen raised shares of Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. Finally, Bank of America initiated coverage on shares of Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.35.

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.