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

Jersey Mike’s (NYSE:JMKE) major shareholder Submarine Buyer Llc sold 2,572,560 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 143,699 shares in the company, valued at $3,139,823.15. This represents a 94.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 stock was sold at an average price of $21.85, for a total transaction of $648,849,996.20.

Jersey Mike’s Price Performance

Shares of JMKE opened at $22.00 on Friday. Jersey Mike’s has a 1-year low of $20.63 and a 1-year high of $24.99.

More Jersey Mike’s News

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

Wall Street Analysts Forecast Growth

JMKE has been the topic of a number of recent research reports. Wells Fargo & Company began coverage on Jersey Mike’s in a report on Monday. They issued an “equal weight” rating and a $25.00 target price on the stock. Wall Street Zen upgraded shares of Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. Loop Capital assumed coverage on shares of Jersey Mike’s in a report on Monday. They set a “buy” rating and a $40.00 target price for the company. Wolfe Research started coverage on shares of Jersey Mike’s in a research report on Monday. They issued a “peer perform” rating on the stock. Finally, Truist Financial initiated coverage on shares of Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $30.00 price target on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.