Jersey Mike’s (NYSE:JMKE) Sees Significant Growth in Short Interest

Jersey Mike’s (NYSE:JMKE) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 2,899,476 shares, a growth of ∞ from the July 15th total of 0 shares. Based on an average daily trading volume, of 3,955,637 shares, the short-interest ratio is currently 0.7 days. Approximately 0.7% of the company’s shares are sold short.

Analyst Ratings Changes

JMKE has been the subject of several analyst reports. Wall Street Zen upgraded shares of Jersey Mike’s to a “hold” rating in a report on Saturday, August 8th. Melius Research initiated coverage on shares of Jersey Mike’s in a research note on Thursday, July 30th. They issued a “buy” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.00.

Insider Buying and Selling

In related news, COO Stacy Peterson purchased 15,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $23.00 per share, with a total value of $345,000.00. Following the completion of the purchase, the chief operating officer owned 15,000 shares in the company, valued at approximately $345,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $21.85, for a total value of $96,381,748.40. Following the transaction, the insider owned 36,114,272 shares of the company’s stock, valued at $789,096,843.20. This trade represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 31,584 shares of company stock worth $726,432.

Jersey Mike’s Stock Up 2.0%

Shares of JMKE stock traded up $0.45 during trading hours on Monday, hitting $22.61. 1,979,574 shares of the company were exchanged, compared to its average volume of 3,881,835. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

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.