Key Points
- Director Andrew Meslow bought 24,926 Vera Bradley shares at $3.73 each, spending about $92,974 and lifting his stake to 650,000 shares. The purchase increased his position by nearly 4%.
- Vera Bradley recently reported better-than-expected quarterly results, with EPS of -$0.09 versus the -$0.33 estimate and revenue of $55.7 million versus $49.12 million expected. Even so, the company remains unprofitable, with negative net margin and return on equity.
- Wall Street sentiment is still cautious, with analysts holding two Hold ratings and one Sell rating, resulting in a consensus “Reduce” rating. Institutional investors continue to hold a significant portion of the stock, owning about 59.9% of shares.
Vera Bradley, Inc. (NASDAQ:VRA - Get Free Report) Director Andrew Meslow purchased 24,926 shares of the business's stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $3.73 per share, for a total transaction of $92,973.98. Following the completion of the transaction, the director directly owned 650,000 shares in the company, valued at $2,424,500. This trade represents a 3.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Vera Bradley Stock Performance
Shares of VRA opened at $3.59 on Wednesday. The business's 50-day moving average is $3.65 and its two-hundred day moving average is $3.04. The company has a market capitalization of $102.10 million, a P/E ratio of -5.20 and a beta of 1.62. Vera Bradley, Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $4.39.
Vera Bradley (NASDAQ:VRA - Get Free Report) last posted its earnings results on Thursday, June 11th. The textile maker reported ($0.09) earnings per share (EPS) for the quarter, topping 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 business had revenue of $55.70 million for the quarter, compared to analyst estimates of $49.12 million. Analysts forecast that Vera Bradley, Inc. will post -0.28 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on VRA shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vera Bradley in a research note on Monday. Wall Street Zen lowered shares of Vera Bradley from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Vera Bradley currently has a consensus rating of "Reduce".
Read Our Latest Research Report on VRA
Institutional Trading of Vera Bradley
Hedge funds and other institutional investors have recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in shares of Vera Bradley during the 2nd quarter worth approximately $28,000. Emissary Wealth LLC acquired a new stake in shares of Vera Bradley during the 4th quarter worth approximately $51,000. Qube Research & Technologies Ltd acquired a new stake in shares of Vera Bradley during the 3rd quarter worth approximately $49,000. Simplex Trading LLC increased its holdings in shares of Vera Bradley by 55.0% during the 4th 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 increased its holdings in shares of Vera Bradley by 266.8% during the 2nd 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.
Vera Bradley Company Profile
(
Get Free Report)
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.
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