Shares of Vera Bradley, Inc. (NASDAQ: VRA) surpassed their 200-day moving average during trading on October 8, 2023. The stock reached a high of $2.22 before closing at $2.20, with a trading volume of 282,022 shares. This movement indicates a potential shift in investor sentiment towards the company, which is known for its vibrant handbags and home décor.
Analysts have recently provided updated assessments regarding Vera Bradley’s stock. Weiss Ratings maintained a “sell (d-)” rating for the company, expressing caution about its future performance. Conversely, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating in a report released on October 26, 2023. Currently, two analysts rate the stock as a “hold,” while one has assigned it a “sell,” leading to a consensus rating of “Reduce,” according to data from MarketBeat.com.
Vera Bradley is experiencing a notable increase in its stock price, which has risen by 10.0%. The company last reported its quarterly earnings on December 11, 2023, revealing a loss of ($0.04) earnings per share (EPS). This figure exceeded analysts’ expectations, which had predicted a loss of ($0.11) EPS. The company generated revenues of $62.25 million, surpassing analyst estimates of $61.69 million. Despite these positive indicators, Vera Bradley posted a negative return on equity of 18.30% and a net margin of 34.23%. In the same quarter last year, the company reported a loss of ($0.27) EPS.
In related news, Andrew Meslow, a director at Vera Bradley, purchased 50,000 shares of the company’s stock on December 15, 2023, at an average cost of $1.93 per share. This acquisition totaled approximately $96,500 and increased Meslow’s holdings to 600,000 shares, valued at around $1.158 million. Following this transaction, corporate insiders own 12.10% of the company’s stock.
Institutional investors have also shown interest in Vera Bradley. For instance, Williams & Novak LLC increased its stake in the company by 48.3% during the second quarter, acquiring an additional 6,565 shares. Following this purchase, the firm now holds 20,170 shares valued at $45,000. Other firms, including SummerHaven Investment Management LLC and Empowered Funds LLC, have also raised their positions, indicating growing confidence among larger investors. Institutional ownership of Vera Bradley currently stands at 59.88%.
Vera Bradley, Inc., headquartered in Fort Wayne, Indiana, has established itself as a prominent lifestyle and accessories brand since its founding in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller. The company is renowned for its colorful, patterned handbags and home décor products that cater primarily to women’s casual and travel needs. Its diverse product line includes day bags, weekenders, backpacks, and an expanding range of travel gear.
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