Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 1,600 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $15.58, for a total value of $24,928.00. Following the sale, the insider now owns 282,262 shares of the company’s stock, valued at approximately $4,397,641.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $119.20 million for the quarter. Vera Bradley had a return on equity of 12.34% and a net margin of 6.63%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share.
VRA has been the subject of several recent analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $18.00 price target on shares of Vera Bradley in a research note on Sunday, September 4th. Zacks Investment Research raised Vera Bradley from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Cowen and Company reissued a “market perform” rating and set a $18.00 price objective on shares of Vera Bradley in a research report on Sunday, September 4th. Finally, Wunderlich cut their price objective on Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.75.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky raised its position in shares of Vera Bradley by 10.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,200 shares of the company’s stock worth $102,000 after buying an additional 700 shares during the last quarter. Capstone Asset Management Co. bought a new position in Vera Bradley during the second quarter worth $142,000. New York State Teachers Retirement System increased its position in Vera Bradley by 43.6% in the second quarter. New York State Teachers Retirement System now owns 10,532 shares of the company’s stock worth $149,000 after buying an additional 3,200 shares during the period. Quantitative Systematic Strategies LLC bought a new position in Vera Bradley during the second quarter worth $167,000. Finally, Pacad Investment Ltd. bought a new position in Vera Bradley during the second quarter worth $174,000. Hedge funds and other institutional investors own 55.34% of the company’s stock.
About Vera Bradley
Vera Bradley, Inc 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. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters.
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