Jersey Mike’s (NYSE:JMKE) Short Interest Update

Jersey Mike’s (NYSE:JMKE) saw a significant growth in short interest in 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 volume of 3,955,637 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

JMKE has been the topic of several recent research reports. Wall Street Zen raised Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. 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 for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $30.00.

Jersey Mike’s Price Performance

NYSE:JMKE opened at $22.61 on Tuesday. Jersey Mike’s has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Buying and Selling

In related news, CFO Michele Allen acquired 10,000 shares of Jersey Mike’s stock in a transaction on Friday, July 31st. The shares were bought at an average price of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the purchase, the chief financial officer directly owned 10,043 shares in the company, valued at $230,989. This trade represents a 23,255.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the company’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 completion of the sale, the insider directly owned 36,114,272 shares of the company’s stock, valued at $789,096,843.20. The trade was a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 31,584 shares of company stock worth $726,432.

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.