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

Vera Bradley, Inc. (NASDAQ:VRA)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.16 and traded as high as $4.01. Vera Bradley shares last traded at $3.88, with a volume of 271,702 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Vera Bradley from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Bradley in a research report on Monday, June 15th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Vera Bradley currently has an average rating of “Reduce”.

Vera Bradley Trading Down 0.3%

The stock has a market cap of $110.35 million, a price-to-earnings ratio of -5.62 and a beta of 1.57. The firm has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $3.16.

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

Insider Transactions at Vera Bradley

In other news, Director Andrew Meslow purchased 24,926 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $3.73 per share, for a total transaction of $92,973.98. Following the completion of the acquisition, the director directly owned 650,000 shares in the company, valued at approximately $2,424,500. The trade was a 3.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Vera Bradley

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRA. Saba Capital Management L.P. acquired a new position in Vera Bradley during the 1st quarter valued at about $916,000. Luxor Capital Group LP bought a new position in shares of Vera Bradley in the 1st quarter valued at about $610,000. Renaissance Technologies LLC grew its position in shares of Vera Bradley by 7.0% during the 1st quarter. Renaissance Technologies LLC now owns 221,716 shares of the textile maker’s stock worth $701,000 after buying an additional 14,500 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Vera Bradley by 31.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock worth $3,283,000 after buying an additional 249,161 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Vera Bradley by 19.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 340,083 shares of the textile maker’s stock worth $823,000 after buying an additional 55,120 shares during the period. 59.88% of the stock is owned by 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.