Engineers Gate Manager LP acquired a new stake in shares of Vera Bradley, Inc. (NASDAQ:VRA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 55,873 shares of the textile maker’s stock, valued at approximately $784,000. Engineers Gate Manager LP owned approximately 0.16% of Vera Bradley as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackay Shields LLC purchased a new stake in Vera Bradley during the first quarter valued at approximately $117,000. MetLife Investment Advisors LLC purchased a new stake in Vera Bradley during the fourth quarter valued at approximately $125,000. Spark Investment Management LLC purchased a new stake in Vera Bradley during the first quarter valued at approximately $280,000. Fox Run Management L.L.C. purchased a new stake in Vera Bradley during the second quarter valued at approximately $290,000. Finally, Algert Global LLC purchased a new stake in Vera Bradley during the first quarter valued at approximately $323,000. Hedge funds and other institutional investors own 65.04% of the company’s stock.
VRA has been the subject of a number of analyst reports. BidaskClub cut shares of Vera Bradley from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Zacks Investment Research raised shares of Vera Bradley from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Saturday, June 9th. ValuEngine raised shares of Vera Bradley from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Finally, Telsey Advisory Group raised their price target on shares of Vera Bradley from $11.00 to $15.00 and gave the stock a “market perform” rating in a report on Thursday, June 7th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.50.
In other Vera Bradley news, insider Michael C. Ray sold 33,236 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $13.48, for a total value of $448,021.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Hall sold 400,000 shares of the firm’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $14.43, for a total transaction of $5,772,000.00. Following the completion of the transaction, the director now directly owns 71,604 shares of the company’s stock, valued at approximately $1,033,245.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,144,704 shares of company stock valued at $16,427,849. Corporate insiders own 30.10% of the company’s stock.
NASDAQ VRA opened at $14.24 on Friday. The firm has a market capitalization of $500.34 million, a price-to-earnings ratio of 23.73 and a beta of 0.48. Vera Bradley, Inc. has a 12-month low of $6.99 and a 12-month high of $15.47.
Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings results on Wednesday, June 6th. The textile maker reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The business had revenue of $86.60 million during the quarter, compared to analysts’ expectations of $86.21 million. Vera Bradley had a net margin of 2.18% and a return on equity of 8.27%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. sell-side analysts expect that Vera Bradley, Inc. will post 0.49 EPS for the current year.
Vera Bradley Company Profile
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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