Jersey Mike’s (NYSE:JMKE) Major Shareholder Abu Dhabi Investment Authority Sells 382,134 Shares

Jersey Mike’s (NYSE:JMKE) major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total value of $8,349,627.90. Following the completion of the transaction, the insider owned 35,732,138 shares of the company’s stock, valued at $780,747,215.30. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Abu Dhabi Investment Authority also recently made the following trade(s):

• On Friday, July 31st, Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’s stock. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40.

Jersey Mike’s Stock Performance

Shares of NYSE JMKE traded down $0.29 during trading on Thursday, hitting $22.02. 972,869 shares of the company were exchanged, compared to its average volume of 3,135,198. Jersey Mike’s has a 1 year low of $20.63 and a 1 year high of $24.99.

Trending Headlines about Jersey Mike’s

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

• Positive Sentiment: Loop Capital set a $40 price target for Jersey Mike’s, substantially above recent trading levels, adding to the bullish analyst outlook. Loop Capital price target article
• Positive Sentiment: Recent coverage has generally been favorable. Jefferies and Tigress Financial assigned “buy” ratings, while RBC, Raymond James and other firms issued positive or overweight views with price targets generally ranging from $27 to $29. The broader analyst consensus is “Moderate Buy,” with an average target of $28.35. Jefferies coverage article
• Positive Sentiment: Coverage was initiated by numerous major firms, including Wells Fargo, Morgan Stanley, Deutsche Bank, Mizuho, Stifel, TD Cowen, Piper Sandler, Baird, BTIG, Guggenheim and Truist. Increased analyst attention could improve institutional awareness and support the stock’s valuation. Analyst coverage reports
• Neutral Sentiment: Zacks Research upgraded Jersey Mike’s to a “hold” rating. The change is less bullish than the recent buy recommendations, but it does not represent a downgrade to a sell rating. Zacks Research
• Negative Sentiment: Blackstone II Holdings L.P. reported selling 2,572,560 shares at an average price of $21.85, reducing its position by 94.71% and leaving approximately 143,699 shares. The roughly $56.2 million sale may pressure the stock and raise concerns about near-term supply, although it appears related to the previously reported sale under Submarine Buyer LLC. SEC shareholder sale filing
• Negative Sentiment: Short interest rose 92.2% to 5.57 million shares as of August 14. Although only about 1.4% of shares are sold short and the short-interest ratio is 1.6 days, the increase indicates more bearish positioning.

Wall Street Analyst Weigh In

JMKE has been the topic of several recent analyst reports. Jefferies Financial Group started coverage on shares of Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $29.00 target price on the stock. Truist Financial started coverage on shares of Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $30.00 price target for the company. Raymond James Financial began coverage on Jersey Mike’s in a research note on Monday. They set an “outperform” rating and a $29.00 price target on the stock. Morgan Stanley initiated coverage on Jersey Mike’s in a report on Monday. They issued an “overweight” rating and a $29.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on Jersey Mike’s in a research note on Tuesday. They issued a “neutral” rating and a $26.00 price objective for the company. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.35.

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.