Vera Bradley Inc. (VRA) Major Shareholder Michael C. Ray Sells 10,800 Shares
Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 10,800 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $15.97, for a total transaction of $172,476.00. Following the sale, the insider now owns 285,462 shares in the company, valued at approximately $4,558,828.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Vera Bradley Inc. (NASDAQ:VRA) opened at 16.08 on Tuesday. The company has a market cap of $588.29 million, a P/E ratio of 18.13 and a beta of 1.12. The stock’s 50 day moving average is $15.14 and its 200 day moving average is $16.11. Vera Bradley Inc. has a 1-year low of $10.41 and a 1-year high of $20.69.
Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $119.20 million for the quarter. During the same period last year, the firm earned $0.15 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts anticipate that Vera Bradley Inc. will post $0.92 earnings per share for the current fiscal year.
Several analysts recently issued reports on VRA shares. Wunderlich reiterated a “buy” rating and set a $24.00 price target on shares of Vera Bradley in a research report on Tuesday, May 31st. Telsey Advisory Group reiterated a “market perform” rating and set a $19.00 price target (down previously from $21.00) on shares of Vera Bradley in a research report on Thursday, June 2nd. Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Cowen and Company reissued a “market perform” rating and issued a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Vera Bradley currently has an average rating of “Hold” and an average target price of $18.75.
Several hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky boosted 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 valued at $102,000 after buying an additional 700 shares in the last quarter. Capstone Asset Management Co. purchased a new position in shares of Vera Bradley during the second quarter valued at approximately $142,000. New York State Teachers Retirement System boosted its position in shares of Vera Bradley by 43.6% in the second quarter. New York State Teachers Retirement System now owns 10,532 shares of the company’s stock valued at $149,000 after buying an additional 3,200 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Vera Bradley during the second quarter valued at approximately $167,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Vera Bradley during the second quarter valued at approximately $174,000. 54.71% of the stock is currently owned by institutional investors.
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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