Vera Bradley (NASDAQ:VRA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Vera Bradley, Inc. (NASDAQ:VRA)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.08 and traded as high as $3.86. Vera Bradley shares last traded at $3.84, with a volume of 111,978 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Vera Bradley from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Bradley in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Vera Bradley Stock Up 3.2%

The stock has a market cap of $109.20 million, a P/E ratio of -5.57 and a beta of 1.62. The company has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $3.08.

Vera Bradley (NASDAQ:VRA) last issued its earnings results on Thursday, June 11th. The textile maker reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.24. Vera Bradley had a negative net margin of 7.02% and a negative return on equity of 6.66%. The firm had revenue of $55.70 million for the quarter, compared to analysts’ expectations of $49.12 million. As a group, sell-side analysts forecast that Vera Bradley, Inc. will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew Meslow acquired 24,926 shares of the stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $3.73 per share, for a total transaction of $92,973.98. Following the completion of the purchase, the director owned 650,000 shares of the company’s stock, valued at $2,424,500. This represents a 3.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vera Bradley

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC bought a new position in shares of Vera Bradley during the second quarter valued at $28,000. Qube Research & Technologies Ltd purchased a new position in shares of Vera Bradley during the 3rd quarter worth $49,000. Emissary Wealth LLC purchased a new position in shares of Vera Bradley during the 4th quarter worth $51,000. Simplex Trading LLC grew its position in shares of Vera Bradley by 55.0% during the 4th quarter. Simplex Trading LLC now owns 35,083 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 12,442 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Vera Bradley by 266.8% during the 2nd quarter. Corient Private Wealth LLC now owns 41,000 shares of the textile maker’s stock valued at $91,000 after acquiring an additional 29,823 shares during the period. 59.88% of the stock is owned by hedge funds and other institutional investors.

Vera Bradley Company Profile

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.