Vera Bradley (NASDAQ:VRA) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Vera Bradley, Inc. (NASDAQ:VRA) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.23 and traded as high as $3.87. Vera Bradley shares last traded at $3.83, with a volume of 75,190 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on VRA shares. Wall Street Zen downgraded Vera Bradley from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Bradley in a research note on Monday, June 15th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vera Bradley presently has a consensus rating of “Reduce”.

Vera Bradley Stock Performance

The business’s 50-day moving average is $3.64 and its 200-day moving average is $3.23. The company has a market capitalization of $108.93 million, a PE ratio of -5.55 and a beta of 1.57.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Thursday, June 11th. The textile maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.24. Vera Bradley had a negative net margin of 7.02% and a negative return on equity of 6.66%. The business had revenue of $55.70 million for the quarter, compared to analysts’ expectations of $49.12 million. Analysts expect that Vera Bradley, Inc. will post -0.28 EPS for the current year.

Insider Activity at Vera Bradley

In related news, Director Andrew Meslow purchased 24,926 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $3.73 per share, for a total transaction of $92,973.98. Following the purchase, the director directly owned 650,000 shares of the company’s stock, valued at approximately $2,424,500. This represents a 3.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 14.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vera Bradley

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Vera Bradley in the second quarter worth $158,000. Saba Capital Management L.P. bought a new position in shares of Vera Bradley during the first quarter valued at $916,000. Luxor Capital Group LP purchased a new position in shares of Vera Bradley in the 1st quarter worth about $610,000. Renaissance Technologies LLC raised its position in shares of Vera Bradley by 7.0% in the 1st quarter. Renaissance Technologies LLC now owns 221,716 shares of the textile maker’s stock worth $701,000 after purchasing an additional 14,500 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Vera Bradley by 31.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock worth $3,283,000 after purchasing an additional 249,161 shares in the last quarter. 59.88% of the stock is owned by institutional investors.

About Vera Bradley

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.