Vera Bradley major shareholder Michael C. Ray Sells 10,000 Shares (VRA)
Vera Bradley (NYSE:VRA) major shareholder Michael C. Ray unloaded 10,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $22.67, for a total value of $226,700.00. Following the completion of the sale, the insider now directly owns 894,998 shares of the company’s stock, valued at approximately $20,289,605. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Vera Bradley (NYSE:VRA) traded down 0.71% during mid-day trading on Thursday, hitting $22.52. 325,555 shares of the company’s stock traded hands. Vera Bradley has a 52 week low of $17.27 and a 52 week high of $30.00. The stock’s 50-day moving average is $26.27 and its 200-day moving average is $25.78. The company has a market cap of $916.2 million and a P/E ratio of 16.43.
Vera Bradley (NYSE:VRA) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $113.50 million for the quarter, compared to the consensus estimate of $118.41 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts predict that Vera Bradley will post $1.05 earnings per share for the current fiscal year.
A number of research firms have recently commented on VRA. Analysts at Zacks downgraded shares of Vera Bradley from a “neutral” rating to an “underperform” rating in a research note on Monday, June 9th. They now have a $22.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Vera Bradley in a research note on Friday, June 6th. They now have a $25.00 price target on the stock, down previously from $29.00. Finally, analysts at Telsey Advisory Group cut their price target on shares of Vera Bradley from $35.00 to $32.00 in a research note on Friday, June 6th. They now have a “not rated” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Vera Bradley currently has a consensus rating of “Hold” and an average price target of $27.00.
Vera Bradley, Inc (NYSE:VRA) is a designer, producer, marketer, and retailer of functional accessories for women.
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