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

Jersey Mike’s (NYSE:JMKE) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 5,572,621 shares, an increase of 92.2% from the July 30th total of 2,899,476 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,385,397 shares, the short-interest ratio is presently 1.6 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Melius Research initiated coverage on shares of Jersey Mike’s in a report on Thursday, July 30th. They set a “buy” rating and a $30.00 price target for the company. Bank of America began coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set a “market perform” rating and a $26.00 price objective for the company. UBS Group set a $27.00 target price on Jersey Mike’s and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, Tigress Financial started coverage on Jersey Mike’s in a report on Wednesday, August 26th. They issued a “buy” rating and a $29.00 target price on the stock. Twenty-one equities 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 stock presently has an average rating of “Moderate Buy” and an average target price of $28.35.

Jersey Mike’s Price Performance

Shares of JMKE stock traded down $1.17 on Monday, reaching $21.29. The company had a trading volume of 2,743,038 shares, compared to its average volume of 3,101,351. Jersey Mike’s has a one year low of $20.63 and a one year high of $24.99.

Insider Buying and Selling at Jersey Mike’s

In related news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’s stock in a transaction on 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 owned 143,699 shares in the company, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $8,349,627.90. Following the completion of the transaction, the insider directly owned 35,732,138 shares of the company’s stock, valued at approximately $780,747,215.30. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 31,584 shares of company stock valued at $726,432 and have 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.