Vera Bradley, Inc. (NASDAQ:VRA) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 4,283,700 shares, a decrease of 25.9% from the November 15th total of 5,778,653 shares. Approximately 21.0% of the shares of the company are short sold. Based on an average daily trading volume, of 373,021 shares, the days-to-cover ratio is presently 11.5 days.
In related news, major shareholder Thomas Farrell Byrne II sold 12,292 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $12.33, for a total value of $151,560.36. Following the completion of the transaction, the insider now directly owns 32,605 shares of the company’s stock, valued at approximately $402,019.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 39.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teton Advisors Inc. purchased a new stake in shares of Vera Bradley in the second quarter valued at $102,000. LMR Partners LLP purchased a new stake in shares of Vera Bradley in the second quarter valued at $115,000. Voya Investment Management LLC lifted its holdings in shares of Vera Bradley by 29.4% in the second quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 3,014 shares in the last quarter. Texas Permanent School Fund lifted its holdings in shares of Vera Bradley by 1.2% in the second quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 157 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Vera Bradley by 14.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 15,147 shares of the textile maker’s stock valued at $141,000 after purchasing an additional 1,943 shares in the last quarter. Institutional investors own 63.00% of the company’s stock.
A number of equities research analysts have weighed in on VRA shares. BidaskClub downgraded Vera Bradley from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Jefferies Group restated a “hold” rating and issued a $11.00 target price on shares of Vera Bradley in a research report on Thursday, October 12th. Zacks Investment Research upgraded Vera Bradley from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Wednesday, November 1st. B. Riley restated a “buy” rating on shares of Vera Bradley in a research report on Wednesday, November 1st. Finally, Cowen restated a “hold” rating and issued a $12.00 target price on shares of Vera Bradley in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Vera Bradley presently has an average rating of “Hold” and a consensus target price of $11.00.
Shares of Vera Bradley (NASDAQ:VRA) traded up $0.08 during trading hours on Thursday, hitting $11.19. The stock had a trading volume of 250,952 shares, compared to its average volume of 414,007. Vera Bradley has a one year low of $6.99 and a one year high of $12.83. The firm has a market cap of $394.21, a P/E ratio of 223.80, a PEG ratio of 1.97 and a beta of 1.08.
Vera Bradley (NASDAQ:VRA) last released its earnings results on Wednesday, December 6th. The textile maker reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.09. The company had revenue of $114.10 million during the quarter, compared to analyst estimates of $114.55 million. Vera Bradley had a return on equity of 0.52% and a net margin of 0.31%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. analysts anticipate that Vera Bradley will post 0.58 earnings per share for the current year.
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About Vera Bradley
Vera Bradley, Inc (Vera Bradley) 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. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.
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