Jersey Mike’s (NYSE:JMKE) Hits New 52-Week Low – What’s Next?

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $27.00 price target on the stock. Robert W. Baird assumed coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set an “outperform” rating and a $27.00 target price on the stock. UBS Group set a $27.00 price objective on Jersey Mike’s and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Raymond James Financial started coverage on Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $29.00 target price for the company. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.35.

Jersey Mike’s Trading Up 1.2%

Insider Buying and Selling at Jersey Mike’s

In other news, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the transaction, the insider owned 35,732,138 shares in the company, valued at $780,747,215.30. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stacy Peterson bought 15,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $23.00 per share, with a total value of $345,000.00. Following the completion of the purchase, the chief operating officer directly owned 15,000 shares in the company, valued at $345,000. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 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.