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

Vera Bradley, Inc. (NASDAQ:VRA)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.31 and traded as high as $3.79. Vera Bradley shares last traded at $3.72, with a volume of 99,892 shares changing hands.

Wall Street Analysts Forecast Growth

VRA has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Vera Bradley in a report on Monday, June 15th. Wall Street Zen raised Vera Bradley from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Vera Bradley Stock Performance

The company has a market cap of $105.80 million, a price-to-earnings ratio of -5.39 and a beta of 1.57. The firm’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $3.31.

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

Insiders Place Their Bets

In related news, Director Andrew Meslow bought 24,926 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $3.73 per share, for a total transaction of $92,973.98. Following the acquisition, the director directly owned 650,000 shares in the company, valued at approximately $2,424,500. This trade represents a 3.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vera Bradley

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC purchased a new stake in Vera Bradley in the 2nd quarter valued at $28,000. Emissary Wealth LLC purchased a new stake in shares of Vera Bradley in the fourth quarter valued at about $51,000. Qube Research & Technologies Ltd purchased a new stake in shares of Vera Bradley in the third quarter valued at about $49,000. Simplex Trading LLC raised its stake in Vera Bradley by 55.0% during the fourth quarter. Simplex Trading LLC now owns 35,083 shares of the textile maker’s stock worth $85,000 after purchasing an additional 12,442 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Vera Bradley in the 2nd quarter valued at about $158,000. Institutional investors and hedge funds own 59.88% of the company’s stock.

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.