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

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. The sale reduced its stake by 1.06%, leaving it with 35.7 million shares worth about $780.7 million.
• Jersey Mike’s shares fell 1.3% to $22.02, near the lower end of their 52-week range. Additional large-holder selling and a 92.2% increase in short interest point to potential near-term supply and bearish pressure.
• Analyst sentiment remains broadly positive: 21 analysts rate the stock Buy and five rate it Hold, producing a “Moderate Buy” consensus and an average price target of $28.35, with recent targets ranging from $25 to $31.

Jersey Mike's (NYSE:JMKE - Get Free Report) major shareholder Abu Dhabi Investment Authority sold 382,134 shares of Jersey Mike's stock in a transaction dated 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 sale, the insider owned 35,732,138 shares in the company, valued at $780,747,215.30. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's stock 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 transaction of $96,381,748.40.

Jersey Mike's Stock Down 1.3%

Shares of Jersey Mike's stock traded down $0.29 during trading on Thursday, reaching $22.02. The company's stock had a trading volume of 972,869 shares, compared to its average volume of 3,135,198. Jersey Mike's has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Key Jersey Mike's News

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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Mizuho initiated coverage on Jersey Mike's in a report on Monday. They set an "outperform" rating and a $31.00 price target on the stock. Piper Sandler assumed coverage on Jersey Mike's in a research note on Monday. They set an "overweight" rating and a $29.00 price objective for the company. Tigress Financial assumed coverage on Jersey Mike's in a research report on Wednesday. They set a "buy" rating and a $29.00 price objective for the company. Wells Fargo & Company began coverage on Jersey Mike's in a research note on Monday. They issued an "equal weight" rating and a $25.00 target price on the stock. Finally, BTIG Research initiated coverage on Jersey Mike's in a report on Monday. They issued a "buy" rating and a $28.00 target price on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.35.

Jersey Mike's Company Profile

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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