Vera Bradley, Inc. (NASDAQ:VRA) Sees Large Decline in Short Interest

Vera Bradley, Inc. (NASDAQ:VRA) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,570,000 shares, a decrease of 22.3% from the October 31st total of 2,020,000 shares. Currently, 6.8% of the company’s stock are short sold. Based on an average daily trading volume, of 384,500 shares, the short-interest ratio is currently 4.1 days.

Shares of VRA stock opened at $11.18 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.91 and a current ratio of 2.15. Vera Bradley has a one year low of $7.94 and a one year high of $14.51. The company’s 50-day simple moving average is $10.94 and its 200-day simple moving average is $10.91. The stock has a market capitalization of $382.71 million, a price-to-earnings ratio of 18.95 and a beta of 0.85.

Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings results on Wednesday, September 4th. The textile maker reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Vera Bradley had a return on equity of 6.55% and a net margin of 3.82%. The company had revenue of $119.79 million for the quarter, compared to the consensus estimate of $117.35 million. During the same period in the previous year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Vera Bradley will post 0.89 EPS for the current year.

VRA has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Vera Bradley from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. BidaskClub raised shares of Vera Bradley from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. ValuEngine raised shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Telsey Advisory Group reduced their price target on shares of Vera Bradley from $13.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Vera Bradley presently has a consensus rating of “Hold” and a consensus price target of $11.00.

In other Vera Bradley news, major shareholder B. Baekgaard 2009 Gran Barbara sold 28,912 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.91, for a total value of $315,429.92. Following the completion of the transaction, the insider now directly owns 2,430,378 shares of the company’s stock, valued at approximately $26,515,423.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Wallstrom acquired 5,434 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $9.19 per share, with a total value of $49,938.46. Following the completion of the transaction, the insider now owns 270,306 shares in the company, valued at $2,484,112.14. The disclosure for this purchase can be found here. Corporate insiders own 27.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC lifted its position in shares of Vera Bradley by 14.8% during the third quarter. Mason Street Advisors LLC now owns 8,016 shares of the textile maker’s stock worth $81,000 after purchasing an additional 1,033 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Vera Bradley by 109.6% during the third quarter. Russell Investments Group Ltd. now owns 136,974 shares of the textile maker’s stock worth $1,382,000 after purchasing an additional 71,618 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Vera Bradley by 13.2% during the third quarter. Texas Permanent School Fund now owns 16,068 shares of the textile maker’s stock worth $162,000 after purchasing an additional 1,871 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Vera Bradley by 59.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 15,072 shares of the textile maker’s stock worth $152,000 after purchasing an additional 5,630 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Vera Bradley by 11.3% during the third quarter. Comerica Bank now owns 22,071 shares of the textile maker’s stock worth $229,000 after purchasing an additional 2,244 shares during the last quarter. 68.67% of the stock is currently owned by institutional investors and hedge funds.

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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