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

Jersey Mike’s (NYSE:JMKE) major shareholder Submarine Buyer Llc sold 2,572,560 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the transaction, the insider directly owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This represents a 94.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $21.85, for a total transaction of $648,849,996.20.

Jersey Mike’s Stock Up 0.7%

NYSE:JMKE opened at $22.36 on Thursday. Jersey Mike’s has a 1-year low of $20.63 and a 1-year high of $24.99.

Key Stories Impacting Jersey Mike’s

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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on JMKE shares. Jefferies Financial Group assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $29.00 price objective on the stock. Piper Sandler started coverage on shares of Jersey Mike’s in a report on Monday. They set an “overweight” rating and a $29.00 target price for the company. Robert W. Baird began coverage on Jersey Mike’s in a research report on Monday. They issued an “outperform” rating and a $27.00 price target on the stock. William Blair began coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating on the stock. Finally, Evercore assumed coverage on Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 price objective for the company. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Jersey Mike’s has an average rating of “Moderate Buy” and an average 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.