Michael C. Ray Sells 10,800 Shares of Vera Bradley Inc. (VRA) Stock
Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 10,800 shares of Vera Bradley stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $15.10, for a total transaction of $163,080.00. Following the completion of the sale, the insider now owns 279,062 shares in the company, valued at $4,213,836.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Vera Bradley Inc. (NASDAQ:VRA) opened at 14.70 on Friday. The stock has a market capitalization of $537.80 million, a PE ratio of 16.57 and a beta of 1.28. Vera Bradley Inc. has a 52-week low of $10.41 and a 52-week high of $20.69. The firm has a 50-day moving average of $15.56 and a 200 day moving average of $15.78.
Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company earned $119.20 million during the quarter. Vera Bradley had a net margin of 6.63% and a return on equity of 12.34%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. Equities research analysts forecast that Vera Bradley Inc. will post $0.90 EPS for the current fiscal year.
A number of equities analysts have commented on VRA shares. Robert W. Baird reissued a “neutral” rating and issued a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. Zacks Investment Research raised shares of Vera Bradley from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Cowen and Company reissued a “market perform” rating and issued a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. KeyCorp reissued a “hold” rating on shares of Vera Bradley in a research note on Thursday. Finally, Wunderlich dropped their price objective on shares of Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.75.
Large investors have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Vera Bradley by 24.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 58,135 shares of the company’s stock worth $823,000 after buying an additional 11,594 shares during the period. Palo Capital Inc. acquired a new stake in shares of Vera Bradley during the second quarter worth approximately $372,000. Capstone Asset Management Co. acquired a new stake in shares of Vera Bradley during the second quarter worth approximately $142,000. Avalon Advisors LLC acquired a new stake in shares of Vera Bradley during the first quarter worth approximately $1,125,000. Finally, Arizona State Retirement System acquired a new stake in shares of Vera Bradley during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 55.34% of the company’s stock.
Vera Bradley Company Profile
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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