Vera Bradley Inc. (VRA) Major Shareholder Michael C. Ray Sells 10,800 Shares of Stock
Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 10,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $15.10, for a total transaction of $163,080.00. Following the sale, the insider now owns 279,062 shares of the company’s stock, valued at $4,213,836.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Vera Bradley Inc. (NASDAQ:VRA) opened at 14.70 on Friday. The company has a market capitalization of $537.80 million, a PE ratio of 16.57 and a beta of 1.28. Vera Bradley Inc. has a 52 week low of $10.41 and a 52 week high of $20.69. The company has a 50-day moving average of $15.56 and a 200-day moving average of $15.78.
Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings data 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 business earned $119.20 million during the quarter. During the same period in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Vera Bradley Inc. will post $0.90 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund bought a new position in Vera Bradley during the first quarter worth $321,000. Prudential Financial Inc. bought a new position in Vera Bradley during the first quarter worth $1,002,000. BlackRock Fund Advisors increased its position in Vera Bradley by 143.6% in the first quarter. BlackRock Fund Advisors now owns 1,349,293 shares of the company’s stock worth $27,445,000 after buying an additional 795,475 shares in the last quarter. AXA bought a new position in Vera Bradley during the first quarter worth $1,534,000. Finally, Geode Capital Management LLC increased its position in Vera Bradley by 1.2% in the first quarter. Geode Capital Management LLC now owns 145,791 shares of the company’s stock worth $2,964,000 after buying an additional 1,720 shares in the last quarter. 55.34% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on VRA. Zacks Investment Research downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Cowen and Company reiterated a “market perform” rating and issued a $18.00 price target on shares of Vera Bradley in a research report on Sunday, September 4th. Robert W. Baird reiterated a “neutral” rating and issued a $18.00 price target on shares of Vera Bradley in a research report on Sunday, September 4th. KeyCorp reiterated a “hold” rating on shares of Vera Bradley in a research report on Thursday. Finally, Wunderlich dropped their price target 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Vera Bradley has a consensus rating of “Hold” and an average price target of $18.75.
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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