Michael C. Ray Sells 1,600 Shares of Vera Bradley Inc. (VRA) Stock
Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 1,600 shares of Vera Bradley stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $15.71, for a total transaction of $25,136.00. Following the completion of the transaction, the insider now owns 282,262 shares of the company’s stock, valued at approximately $4,434,336.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Vera Bradley Inc. (NASDAQ:VRA) opened at 15.17 on Friday. The company has a market cap of $554.99 million, a PE ratio of 17.10 and a beta of 1.12. The firm’s 50 day moving average is $15.48 and its 200 day moving average is $15.98. Vera Bradley Inc. has a 12 month low of $10.41 and a 12 month high of $20.69.
Vera Bradley (NASDAQ:VRA) last announced its earnings results on Thursday, September 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Vera Bradley had a net margin of 6.63% and a return on equity of 12.34%. The firm had revenue of $119.20 million for the quarter. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts predict that Vera Bradley Inc. will post $0.90 earnings per share for the current year.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Cowen and Company restated a “market perform” rating and issued a $18.00 price objective on shares of Vera Bradley in a research report on Sunday, September 4th. Robert W. Baird restated a “neutral” rating and issued a $18.00 price objective on shares of Vera Bradley in a research report on Sunday, September 4th. Telsey Advisory Group restated a “market perform” rating and issued a $19.00 price objective (down previously from $21.00) on shares of Vera Bradley in a research report on Thursday, June 2nd. Finally, Wunderlich dropped their price objective on shares of Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $18.75.
Hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in Vera Bradley by 143.6% in the first quarter. BlackRock Fund Advisors now owns 1,349,293 shares of the company’s stock valued at $27,445,000 after buying an additional 795,475 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Vera Bradley by 10.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,200 shares of the company’s stock valued at $102,000 after buying an additional 700 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in Vera Bradley during the first quarter valued at about $5,451,000. Strs Ohio purchased a new stake in Vera Bradley during the second quarter valued at about $478,000. Finally, AXA purchased a new stake in Vera Bradley during the first quarter valued at about $1,534,000. Institutional investors and hedge funds own 55.34% of the company’s stock.
About Vera Bradley
Vera Bradley, Inc is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters.
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