Insider Buying: Jersey Mike’s (NYSE:JMKE) Chairman Purchases $24,932.00 in Stock

Jersey Mike’s (NYSE:JMKE) Chairman Nigel Travis acquired 1,084 shares of Jersey Mike’s stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $23.00 per share, for a total transaction of $24,932.00. Following the completion of the purchase, the chairman directly owned 650 shares of the company’s stock, valued at $14,950. The trade was a -249.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jersey Mike’s Stock Performance

JMKE stock traded down $1.24 during midday trading on Tuesday, reaching $23.23. 4,789,536 shares of the company traded hands, compared to its average volume of 7,498,739. Jersey Mike’s has a 52-week low of $20.63 and a 52-week high of $24.99.

Analyst Ratings Changes

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