Jersey Mike’s (NYSE:JMKE) Reaches New 12-Month Low – Here’s What Happened

Jersey Mike’s (NYSE:JMKE)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.55 and last traded at $20.5380, with a volume of 965552 shares. The stock had previously closed at $21.45.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JMKE. Wolfe Research initiated coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set a “peer perform” rating on the stock. UBS Group set a $27.00 price target on shares of Jersey Mike’s and gave the stock a “buy” rating in a research note on Monday, August 24th. Jefferies Financial Group started coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set a “buy” rating and a $29.00 target price for the company. Tigress Financial assumed coverage on Jersey Mike’s in a research report on Wednesday, August 26th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Wells Fargo & Company started coverage on Jersey Mike’s in a research note on Monday, August 24th. They set an “equal weight” rating and a $25.00 price target on the stock. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.35.

Jersey Mike’s Price Performance

Insider Activity at Jersey Mike’s

In other news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’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 $56,210,436.00. Following the transaction, the insider directly owned 143,699 shares in the company, valued at $3,139,823.15. This trade represents a 94.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the business’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 sale, the insider owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

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.