Vera Bradley Inc. (VRA) Major Shareholder Michael C. Ray Sells 32,400 Shares of Stock
Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 32,400 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $14.92, for a total transaction of $483,408.00. Following the transaction, the insider now owns 269,462 shares in the company, valued at approximately $4,020,373.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Vera Bradley Inc. (NASDAQ:VRA) traded down 0.7136% during midday trading on Friday, reaching $15.2901. 47,636 shares of the company’s stock were exchanged. The firm has a market capitalization of $559.39 million, a price-to-earnings ratio of 17.2380 and a beta of 1.06. Vera Bradley Inc. has a 52 week low of $10.85 and a 52 week high of $20.69. The firm’s 50 day moving average is $14.14 and its 200 day moving average is $14.90.
Vera Bradley (NASDAQ:VRA) last issued its earnings results on Thursday, September 1st. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. The firm had revenue of $119.20 million for the quarter. Vera Bradley had a return on equity of 12.34% and a net margin of 6.63%. Vera Bradley’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities analysts anticipate that Vera Bradley Inc. will post $0.90 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Snow Capital Management LP purchased a new stake in shares of Vera Bradley during the second quarter worth approximately $283,000. BlackRock Fund Advisors increased its position in shares of 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 during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of 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 worth $102,000 after buying an additional 700 shares during the last quarter. Strs Ohio bought a new position in shares of Vera Bradley during the second quarter worth about $478,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Vera Bradley during the second quarter worth about $167,000. Hedge funds and other institutional investors own 55.15% of the company’s stock.
Several research firms have issued reports on VRA. Robert W. Baird restated a “neutral” rating and set a $18.00 target price on shares of Vera Bradley in a research note on Sunday, September 4th. Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Cowen and Company restated a “market perform” rating and set a $18.00 target price on shares of Vera Bradley in a research note on Sunday, September 4th. KeyCorp reiterated a “hold” rating on shares of Vera Bradley in a research note on Thursday, October 6th. Finally, Wunderlich lowered their price objective on shares of Vera Bradley from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th. One 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 company. Vera Bradley presently has a consensus rating of “Hold” and a consensus 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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