Key Points
- Blackstone II sold 2,572,560 Jersey Mike’s shares at an average price of $21.85, generating approximately $56.2 million and reducing its ownership by 94.71% to 143,699 shares.
- Jersey Mike’s shares opened at $22.36, within a 12-month range of $20.63 to $24.99. Short interest also rose 92.2% to 5.57 million shares, signaling increased bearish positioning.
- Analyst sentiment remains favorable, with 21 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $28.35.
Jersey Mike's (NYSE:JMKE - Get Free Report) 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 stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the transaction, the insider owned 143,699 shares in the company, valued at $3,139,823.15. The trade was a 94.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 shares were sold at an average price of $21.85, for a total transaction of $648,849,996.20.
Jersey Mike's Trading Up 0.7%
Shares of NYSE:JMKE opened at $22.36 on Thursday. Jersey Mike's has a 12 month low of $20.63 and a 12 month high of $24.99.
More Jersey Mike's News
Here are the key news stories impacting Jersey Mike's this week:
- Positive Sentiment: Several firms initiated coverage with favorable views. Tigress Financial and Jefferies assigned “buy” ratings with $29 price targets, while Raymond James and RBC issued “moderate buy” ratings with targets of $29 and $28, respectively. These targets imply meaningful upside from recent trading levels. Benzinga analyst coverage reports
- Positive Sentiment: The initial coverage campaign includes major firms such as Morgan Stanley, Deutsche Bank, Mizuho, Stifel, TD Cowen, Piper Sandler, Baird, BTIG, Bernstein, Guggenheim and Truist. The concentrated analyst attention may improve institutional awareness and support the stock’s valuation. Jersey Mike's analyst coverage reports
- Positive Sentiment: Goldman Sachs set a $26 target with a “neutral” rating, and Wells Fargo set a $25 target with an “equal weight” rating. Although less bullish, both targets remain above recent trading levels and establish valuation support. Goldman Sachs and Wells Fargo coverage
- Neutral Sentiment: Analysts have suggested Jersey Mike’s could eventually challenge Subway as the leading sandwich chain, reinforcing the company’s growth narrative, but the claim is prospective rather than a new operating or financial announcement. Jersey Mike's could overtake Subway article
- Negative Sentiment: Blackstone II Holdings L.P. and Submarine Buyer LLC each reported selling 2,572,560 shares at an average price of $21.85, reducing their positions by 94.71%. The transactions totaled about $56.2 million per filing and could pressure the stock or raise concerns about insider confidence. SEC shareholder sale filing
- Negative Sentiment: Short interest rose 92.2% to 5.57 million shares as of August 14. While the short ratio remains only 1.6 days and 1.4% of shares are short, the increase signals growing bearish positioning.
Analyst Ratings Changes
A number of analysts have commented on the company. BTIG Research began coverage on Jersey Mike's in a research report on Monday. They set a "buy" rating and a $28.00 target price on the stock. Stifel Nicolaus began coverage on Jersey Mike's in a research report on Monday. They issued a "buy" rating and a $27.00 price target for the company. Raymond James Financial started coverage on Jersey Mike's in a research note on Monday. They set an "outperform" rating and a $29.00 price target for the company. Wolfe Research initiated coverage on shares of Jersey Mike's in a research note on Monday. They issued a "peer perform" rating on the stock. Finally, Morgan Stanley assumed coverage on shares of Jersey Mike's in a research note on Monday. They issued an "overweight" rating and a $29.00 price objective on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.35.
Get Our Latest Stock Report on JMKE
Jersey Mike's Company Profile
(
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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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