Vera Bradley, Inc. (NASDAQ:VRA) Major Shareholder Sells $396,900.00 in Stock

Vera Bradley, Inc. (NASDAQ:VRA) major shareholder James Bradley Byrne sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $11.34, for a total transaction of $396,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:VRA traded up $0.38 during trading on Friday, reaching $12.31. The stock had a trading volume of 281,615 shares, compared to its average volume of 458,161. Vera Bradley, Inc. has a 52 week low of $7.94 and a 52 week high of $17.38. The firm has a market cap of $408.17 million, a price-to-earnings ratio of 20.86 and a beta of 0.78. The company has a quick ratio of 2.53, a current ratio of 4.15 and a debt-to-equity ratio of 0.41.

Vera Bradley (NASDAQ:VRA) last released its quarterly earnings results on Wednesday, June 5th. The textile maker reported ($0.07) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.07). Vera Bradley had a net margin of 4.69% and a return on equity of 6.76%. The company had revenue of $91.00 million for the quarter, compared to analyst estimates of $87.95 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts predict that Vera Bradley, Inc. will post 0.7 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in VRA. Bank of New York Mellon Corp raised its position in shares of Vera Bradley by 14.2% in the third quarter. Bank of New York Mellon Corp now owns 271,346 shares of the textile maker’s stock valued at $4,141,000 after purchasing an additional 33,780 shares during the period. Bank of Montreal Can raised its position in shares of Vera Bradley by 14,975.7% in the fourth quarter. Bank of Montreal Can now owns 152,415 shares of the textile maker’s stock valued at $1,306,000 after purchasing an additional 151,404 shares during the period. New York State Teachers Retirement System raised its position in shares of Vera Bradley by 24.9% in the fourth quarter. New York State Teachers Retirement System now owns 12,532 shares of the textile maker’s stock valued at $107,000 after purchasing an additional 2,500 shares during the period. Arizona State Retirement System raised its position in shares of Vera Bradley by 5.3% in the fourth quarter. Arizona State Retirement System now owns 33,214 shares of the textile maker’s stock valued at $285,000 after purchasing an additional 1,679 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Vera Bradley in the fourth quarter valued at approximately $83,000. 66.82% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on VRA. ValuEngine lowered shares of Vera Bradley from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Zacks Investment Research lowered shares of Vera Bradley from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. BidaskClub lowered shares of Vera Bradley from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Vera Bradley in a research report on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $13.50.

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About Vera Bradley

Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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