Key Points
- Abu Dhabi Investment Authority sold 382,134 Jersey Mike’s shares at an average price of $21.85, generating approximately $8.35 million and reducing its stake by 1.06% to 35.7 million shares.
- The sale follows a much larger disposal of 4.41 million shares by the same shareholder in July, adding to near-term selling pressure and investor concerns about ownership exits.
- Analysts remain broadly positive: Jersey Mike’s has a “Moderate Buy” consensus rating from 26 analysts and an average price target of $28.35, above its recent $22.00 share price.
Jersey Mike's (NYSE:JMKE - Get Free Report) major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the completion of the transaction, the insider owned 35,732,138 shares in the company, valued at $780,747,215.30. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions 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 stock was sold at an average price of $21.85, for a total value of $96,381,748.40.
Jersey Mike's Price Performance
Shares of NYSE JMKE opened at $22.00 on Friday. Jersey Mike's has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.
Key Stories Impacting Jersey Mike's
Here are the key news stories impacting Jersey Mike's this week:
- 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
Analyst Ratings Changes
A number of brokerages recently issued reports on JMKE. Bank of America initiated coverage on shares of Jersey Mike's in a research note on Monday. They issued a "buy" rating and a $27.00 price target for the company. Raymond James Financial initiated coverage on shares of Jersey Mike's in a research note on Monday. They set an "outperform" rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Jersey Mike's in a report on Monday. They set an "overweight" rating and a $26.00 price objective for the company. Truist Financial initiated coverage on shares of Jersey Mike's in a research report on Monday. They issued a "buy" rating and a $30.00 target price for the company. Finally, Mizuho initiated coverage on shares of Jersey Mike's in a research note on Monday. They issued an "outperform" rating and a $31.00 target price on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.35.
Check Out Our Latest Stock Analysis on Jersey Mike's
About Jersey Mike's
(
Get Free Report)
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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