Wall Street Zen Downgrades Vera Bradley (NASDAQ:VRA) to Hold

Vera Bradley (NASDAQ:VRA) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Bradley in a report on Monday, June 15th. Two 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, Vera Bradley presently has a consensus rating of “Reduce”.

Vera Bradley Stock Performance

VRA opened at $3.69 on Friday. The company has a market cap of $104.94 million, a PE ratio of -5.35 and a beta of 1.57. The stock has a 50-day moving average of $3.64 and a 200-day moving average of $3.34. Vera Bradley has a 52-week low of $1.39 and a 52-week high of $4.39.

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

Insider Transactions at Vera Bradley

In other Vera Bradley news, Director Andrew Meslow purchased 24,926 shares of the stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $3.73 per share, with a total value of $92,973.98. Following the completion of the transaction, the director owned 650,000 shares in the company, valued at $2,424,500. This trade represents a 3.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vera Bradley

Large investors have recently made changes to their positions in the business. Jump Financial LLC bought a new stake in Vera Bradley during the 2nd quarter valued at approximately $28,000. Qube Research & Technologies Ltd bought a new position in Vera Bradley in the 3rd quarter worth approximately $49,000. Emissary Wealth LLC bought a new position in Vera Bradley in the 4th quarter worth approximately $51,000. Simplex Trading LLC lifted its holdings in shares of 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 buying an additional 12,442 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Vera Bradley by 266.8% during the second quarter. Corient Private Wealth LLC now owns 41,000 shares of the textile maker’s stock worth $91,000 after buying an additional 29,823 shares during the last quarter. Institutional investors and hedge funds own 59.88% of the company’s stock.

About Vera Bradley

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.