Vera Bradley, Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 2,429 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $14.09, for a total transaction of $34,224.61. Following the completion of the sale, the insider now directly owns 109,317 shares in the company, valued at approximately $1,540,276.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Vera Bradley traded down $0.21, hitting $13.90, during mid-day trading on Thursday, according to MarketBeat.com. 441,972 shares of the company were exchanged, compared to its average volume of 310,240. Vera Bradley, Inc. has a 1-year low of $6.99 and a 1-year high of $14.93. The company has a market cap of $491.05 million, a PE ratio of 23.25, a P/E/G ratio of 5.86 and a beta of 0.65.
Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings results on Wednesday, June 6th. The textile maker reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Vera Bradley had a return on equity of 8.27% and a net margin of 2.18%. The firm had revenue of $86.60 million during the quarter, compared to the consensus estimate of $86.21 million. During the same period last year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. research analysts expect that Vera Bradley, Inc. will post 0.47 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackay Shields LLC acquired a new stake in Vera Bradley in the first quarter valued at $117,000. MetLife Investment Advisors LLC acquired a new stake in Vera Bradley in the fourth quarter valued at $125,000. Jefferies Group LLC acquired a new stake in Vera Bradley in the fourth quarter valued at $158,000. Landscape Capital Management L.L.C. acquired a new stake in Vera Bradley in the fourth quarter valued at $160,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Vera Bradley in the fourth quarter valued at $217,000. 63.93% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Vera Bradley from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Saturday, June 9th. Telsey Advisory Group increased their price target on shares of Vera Bradley from $11.00 to $15.00 and gave the company a “market perform” rating in a research note on Thursday, June 7th. BidaskClub upgraded shares of Vera Bradley from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Finally, ValuEngine upgraded shares of Vera Bradley from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.50.
About Vera Bradley
Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.
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