Panagora Asset Management Inc. Sells 10,515 Shares of Vera Bradley, Inc. (NASDAQ:VRA)

Panagora Asset Management Inc. reduced its position in Vera Bradley, Inc. (NASDAQ:VRA) by 23.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,970 shares of the textile maker’s stock after selling 10,515 shares during the period. Panagora Asset Management Inc. owned approximately 0.10% of Vera Bradley worth $408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 361 Capital LLC bought a new position in Vera Bradley during the 2nd quarter valued at $2,805,000. JPMorgan Chase & Co. lifted its stake in Vera Bradley by 497.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 177,019 shares of the textile maker’s stock valued at $2,021,000 after acquiring an additional 147,369 shares in the last quarter. Marshall Wace LLP bought a new position in Vera Bradley during the 1st quarter valued at $1,893,000. Acadian Asset Management LLC lifted its stake in Vera Bradley by 15.5% during the 2nd quarter. Acadian Asset Management LLC now owns 723,580 shares of the textile maker’s stock valued at $8,682,000 after acquiring an additional 96,866 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in Vera Bradley during the 2nd quarter valued at $1,065,000. Institutional investors own 66.51% of the company’s stock.

In related news, insider Robert J. Hall sold 66,500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.10, for a total transaction of $738,150.00. Following the completion of the sale, the insider now directly owns 78,093 shares of the company’s stock, valued at $866,832.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Bradley Baekgaard Fami Barbara sold 16,674 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $24.56, for a total transaction of $409,513.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,731 shares of company stock valued at $2,142,155. Company insiders own 27.30% of the company’s stock.

VRA has been the topic of several recent analyst reports. BidaskClub upgraded Vera Bradley from a “sell” rating to a “hold” rating in a research note on Saturday, August 31st. Telsey Advisory Group dropped their price objective on Vera Bradley from $13.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, September 5th. ValuEngine upgraded Vera Bradley from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research restated a “buy” rating and set a $12.00 price objective on shares of Vera Bradley in a research note on Saturday, June 15th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Vera Bradley has an average rating of “Hold” and an average price target of $11.00.

VRA traded up $0.43 during midday trading on Thursday, reaching $10.56. The company had a trading volume of 9,423 shares, compared to its average volume of 342,555. The company has a quick ratio of 0.91, a current ratio of 2.15 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $10.49 and a two-hundred day moving average of $11.40. The company has a market cap of $311.01 million, a P/E ratio of 17.69 and a beta of 0.86. Vera Bradley, Inc. has a 1 year low of $7.94 and a 1 year high of $17.12.

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 analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $119.79 million during the quarter, compared to analysts’ expectations of $117.35 million. Vera Bradley had a return on equity of 6.55% and a net margin of 3.82%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. On average, equities research analysts predict that Vera Bradley, Inc. will post 0.89 EPS for the current year.

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.

See Also: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Vera Bradley (NASDAQ:VRA)

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