Jersey Mike’s (NYSE:JMKE) Major Shareholder Abu Dhabi Investment Authority Sells 4,411,064 Shares

Jersey Mike’s (NYSE:JMKE) major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the sale, the insider directly owned 36,114,272 shares in the company, valued at approximately $789,096,843.20. The trade was a 10.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Jersey Mike’s Stock Performance

JMKE opened at $24.41 on Tuesday. Jersey Mike’s has a 1 year low of $20.63 and a 1 year high of $24.99.

Wall Street Analyst Weigh In

Separately, Melius Research assumed coverage on shares of Jersey Mike’s in a research report on Thursday, July 30th. They issued a “buy” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Jersey Mike’s presently has an average rating of “Buy” and an average target price of $30.00.

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.