Vera Bradley (NASDAQ:VRA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Vera Bradley (NASDAQ:VRA) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Bradley in a research report on Monday, June 15th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Vera Bradley Stock Up 0.3%

Shares of NASDAQ VRA opened at $3.69 on Friday. Vera Bradley has a fifty-two week low of $1.39 and a fifty-two week high of $4.39. The firm’s 50-day simple moving average is $3.64 and its 200 day simple moving average is $3.34. The stock has a market cap of $104.94 million, a P/E ratio of -5.35 and a beta of 1.57.

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. Vera Bradley had a negative net margin of 7.02% and a negative return on equity of 6.66%. The firm had revenue of $55.70 million for the quarter, compared to analysts’ expectations of $49.12 million. On average, sell-side analysts anticipate that Vera Bradley will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Vera Bradley

In related news, Director Andrew Meslow acquired 24,926 shares of the business’s stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $3.73 per share, for a total transaction of $92,973.98. Following the acquisition, the director owned 650,000 shares in the company, valued at approximately $2,424,500. This represents 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 the SEC website. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Impala Asset Management LLC acquired a new position in shares of Vera Bradley in the 4th quarter valued at about $976,000. Saba Capital Management L.P. acquired a new stake in shares of Vera Bradley during the first quarter worth approximately $916,000. Marshall Wace LLP boosted its holdings in shares of Vera Bradley by 133.2% during the fourth quarter. Marshall Wace LLP now owns 467,127 shares of the textile maker’s stock worth $1,130,000 after purchasing an additional 266,785 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Vera Bradley by 31.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock valued at $3,283,000 after purchasing an additional 249,161 shares in the last quarter. Finally, Nomura Holdings Inc. grew its position in Vera Bradley by 15.2% during the third quarter. Nomura Holdings Inc. now owns 1,846,432 shares of the textile maker’s stock valued at $3,711,000 after purchasing an additional 243,900 shares in the last quarter. 59.88% of the stock is currently owned by institutional investors and hedge funds.

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.