Jersey Mike’s’ Quiet Period Set To Expire on September 8th (NYSE:JMKE)

Jersey Mike’s’ (NYSE:JMKE) quiet period will expire on Tuesday, September 8th. Jersey Mike’s had issued 43,478,261 shares in its initial public offering on July 30th. The total size of the offering was $1,000,000,003 based on an initial share price of $23.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JMKE. Royal Bank Of Canada assumed coverage on Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $28.00 price objective for the company. Guggenheim assumed coverage on Jersey Mike’s in a report on Monday, August 24th. They issued a “buy” rating and a $28.00 target price on the stock. BTIG Research started coverage on Jersey Mike’s in a research report on Monday, August 24th. They set a “buy” rating and a $28.00 price target for the company. Jefferies Financial Group began coverage on Jersey Mike’s in a research note on Monday, August 24th. They set a “buy” rating and a $29.00 price target for the company. Finally, Evercore started coverage on Jersey Mike’s in a report on Monday, August 24th. They issued an “outperform” rating and a $28.00 price objective on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.35.

Jersey Mike’s Stock Performance

JMKE opened at $20.66 on Thursday. Jersey Mike’s has a 52-week low of $20.25 and a 52-week high of $24.99.

Insider Buying and Selling at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’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 value of $56,210,436.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michele Allen bought 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $23.00 per share, with a total value of $69,000.00. Following the completion of the purchase, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at approximately $34,500. This trade represents a -200.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $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.