Michael C. Ray Sells 237,500 Shares of Vera Bradley, Inc. (VRA) Stock
Vera Bradley, Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 237,500 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $8.23, for a total transaction of $1,954,625.00. Following the sale, the insider now owns 120,712 shares of the company’s stock, valued at approximately $993,459.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Vera Bradley, Inc. (VRA) traded up 0.57% during midday trading on Thursday, reaching $8.81. 311,606 shares of the company were exchanged. Vera Bradley, Inc. has a 52-week low of $7.70 and a 52-week high of $17.06. The stock has a market capitalization of $318.52 million, a price-to-earnings ratio of 24.20 and a beta of 0.90. The company’s 50-day moving average price is $9.68 and its 200 day moving average price is $9.21.
Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $112.42 million during the quarter, compared to analyst estimates of $111.72 million. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. Vera Bradley’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. On average, equities analysts predict that Vera Bradley, Inc. will post $0.47 earnings per share for the current year.
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A number of brokerages recently commented on VRA. Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Jefferies Group LLC set a $10.00 price objective on shares of Vera Bradley and gave the company a “hold” rating in a research report on Wednesday, May 31st. FBR & Co restated an “outperform” rating and issued a $12.00 price objective on shares of Vera Bradley in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Finally, KeyCorp restated a “hold” rating on shares of Vera Bradley in a research report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.60.
A number of institutional investors have recently bought and sold shares of VRA. Renaissance Technologies LLC boosted its stake in Vera Bradley by 35.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,891,800 shares of the textile maker’s stock valued at $17,613,000 after purchasing an additional 498,950 shares during the period. Dimensional Fund Advisors LP boosted its stake in Vera Bradley by 22.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,226,704 shares of the textile maker’s stock valued at $21,776,000 after purchasing an additional 413,983 shares during the period. Vanguard Group Inc. boosted its stake in Vera Bradley by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 1,741,621 shares of the textile maker’s stock valued at $16,215,000 after purchasing an additional 194,971 shares during the period. Bank of New York Mellon Corp boosted its stake in Vera Bradley by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,190,086 shares of the textile maker’s stock valued at $11,079,000 after purchasing an additional 186,986 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Vera Bradley by 61.6% during the 2nd quarter. Citadel Advisors LLC now owns 435,950 shares of the textile maker’s stock valued at $4,264,000 after purchasing an additional 166,116 shares during the period. 60.63% of the stock is owned by hedge funds and other institutional investors.
Vera Bradley Company Profile
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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