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 Thursday, October 6th. The shares were sold at an average price of $15.10, for a total transaction of $163,080.00. Following the sale, the insider now directly owns 279,062 shares of the company’s stock, valued at approximately $4,213,836.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Vera Bradley Inc. (NASDAQ:VRA) opened at 14.70 on Friday. The firm has a market cap of $537.80 million, a price-to-earnings ratio of 16.57 and a beta of 1.28. The stock has a 50 day moving average of $15.56 and a 200-day moving average of $15.78. Vera Bradley Inc. has a 1-year low of $10.41 and a 1-year high of $20.69.
Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm earned $119.20 million during the quarter. Vera Bradley had a net margin of 6.63% and a return on equity of 12.34%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Equities analysts anticipate that Vera Bradley Inc. will post $0.90 EPS for the current fiscal year.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Cowen and Company reaffirmed a “market perform” rating and issued a $18.00 price target on shares of Vera Bradley in a report on Sunday, September 4th. Robert W. Baird reaffirmed a “neutral” rating and issued a $18.00 price target on shares of Vera Bradley in a report on Sunday, September 4th. KeyCorp reaffirmed a “hold” rating on shares of Vera Bradley in a report on Thursday. Finally, Wunderlich decreased their price target on shares of Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.75.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Old Mutual Global Investors UK Ltd. boosted its position in shares of Vera Bradley by 24.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 58,135 shares of the company’s stock worth $823,000 after buying an additional 11,594 shares during the period. Palo Capital Inc. acquired a new position in shares of Vera Bradley during the second quarter worth $372,000. Capstone Asset Management Co. acquired a new position in shares of Vera Bradley during the second quarter worth $142,000. Avalon Advisors LLC acquired a new position in shares of Vera Bradley during the first quarter worth $1,125,000. Finally, Arizona State Retirement System acquired a new position in shares of Vera Bradley during the first quarter worth $214,000. Hedge funds and other institutional investors own 55.34% of the company’s stock.
Vera Bradley Company Profile
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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