Blackstone Holdings II L.P. (SCHWARZMAN STEPHEN A) sold $56.2M of JMKE (indirect holdings)

Loop Capital initiated coverage of Jersey Mike’s (JMKE) with a Buy rating and a $40 price target, the highest on Wall Street. The firm cites the company's unique business model, strong same-store sales growth, and planned digital ad shift as reasons for optimism. JMKE's stock has traded near its $23 IPO price since its debut, with a consensus target of $27.89. The company's high valuation and potential Blackstone share sales are noted risks.

Submarine Buyer LLC sold 2,572,560 indirectly-held shares of Jersey Mike's Subs Inc. (JMKE) at $21.85 ($56.21M total) across 2 trades on 2026-08-25. Filed jointly with Boardwalk II Aggregator L.P. (10% owner), Submarine Buyer Holdco LLC (10% owner), Boardwalk I Aggregator L.P. (10% owner), BCP 9 Holdings Manager L.L.C. (10% owner), Blackstone Management Associates IX L.P. (10% owner) and BMA IX L.L.C. (10% owner).

Wall Street analysts issued upgrades, downgrades, and initiations for several companies. Upgrades include argenx (ARGX) to Buy at UBS, DT Midstream (DTM) to Outperform at Wolfe Research, and SolarEdge (SEDG) to Buy at UBS. Downgrades include Dick's Sporting Goods (DKS) to Hold at Truist, EPAM Systems (EPAM) to Neutral at JPMorgan, and Intuit (INTU) to Neutral at Bank of America. Initiations include Atlassian (TEAM) with Outperform at RBC, JFrog (FROG) with Outperform at RBC, and Lattice Semicond

Jersey Mike’s Subs Inc shares rose in premarket trading after four brokerages initiated coverage with buy-equivalent ratings and price targets ranging from $27 to $31. Analysts cited its growth model and pipeline, with forecasts of 8.3%-8.7% unit growth and 2.4%-2.9% same-store sales growth through 2027. The company completed its IPO in 2026, raising $301 million.

Jersey Mike’s Subs (JMKE) stock rose 1.1% to $24.13 in pre-market trading, supported by multiple analyst initiations with price targets ranging from $26 to $29, citing growth potential and competitive advantages. Analysts highlighted the company's asset-light model, same-store sales visibility, and expansion plans. The broader market showed slight declines, making JMKE's move stock-specific. The company went public at $23 per share in July 2026.

Marex's Winterflood division offers UK retail investors access to Jersey Mike's (JMKE) IPO via its platform. JMKE is floating 43.48 million shares on the NYSE at $23 per share. 75% of investors received full allocation, according to the company. This is the second retail offer under the UK's new POP regime.