Short Interest in Vera Bradley, Inc. (NASDAQ:VRA) Declines By 17.8%
Vera Bradley, Inc. (NASDAQ:VRA) saw a large decline in short interest in the month of July. As of July 14th, there was short interest totalling 5,140,270 shares, a decline of 17.8% from the June 30th total of 6,254,488 shares. Currently, 26.4% of the company’s shares are short sold. Based on an average daily trading volume, of 409,853 shares, the days-to-cover ratio is currently 12.5 days.
Several hedge funds have recently made changes to their positions in VRA. Russell Investments Group Ltd. bought a new stake in shares of Vera Bradley during the fourth quarter valued at approximately $719,000. Comerica Bank increased its stake in shares of Vera Bradley by 5.8% in the fourth quarter. Comerica Bank now owns 20,930 shares of the textile maker’s stock valued at $249,000 after buying an additional 1,154 shares during the period. State Street Corp increased its stake in shares of Vera Bradley by 9.8% in the fourth quarter. State Street Corp now owns 417,932 shares of the textile maker’s stock valued at $4,896,000 after buying an additional 37,267 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Vera Bradley by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,540,201 shares of the textile maker’s stock valued at $18,051,000 after buying an additional 37,046 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of Vera Bradley by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 12,232 shares of the textile maker’s stock valued at $143,000 after buying an additional 100 shares during the period. 58.43% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on VRA shares. Jefferies Group LLC set a $10.00 price target on shares of Vera Bradley and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, FBR & Co restated an “outperform” rating and set a $12.00 price objective on shares of Vera Bradley in a report on Tuesday, July 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.83.
Vera Bradley (NASDAQ:VRA) opened at 9.95 on Friday. The firm has a market cap of $359.73 million, a PE ratio of 27.34 and a beta of 0.87. Vera Bradley has a one year low of $7.70 and a one year high of $17.20. The company’s 50-day moving average is $9.22 and its 200-day moving average is $9.55.
Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Wednesday, May 31st. The textile maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. The company had revenue of $96.10 million during the quarter, compared to the consensus estimate of $96.62 million. Vera Bradley had a net margin of 2.79% and a return on equity of 7.18%. The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. On average, analysts forecast that Vera Bradley will post $0.44 earnings per share for the current fiscal year.
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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