Vera Bradley (NASDAQ:VRA) Releases Earnings Results, Beats Expectations By $0.24 EPS

Vera Bradley (NASDAQ:VRA) released its earnings results on Thursday. The textile maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.24, FiscalAI reports. The firm had revenue of $55.70 million for the quarter, compared to the consensus estimate of $49.12 million. Vera Bradley had a negative net margin of 17.74% and a negative return on equity of 12.00%.

Vera Bradley Price Performance

Shares of Vera Bradley stock opened at $3.18 on Thursday. The stock has a market cap of $90.44 million, a price-to-earnings ratio of -1.85 and a beta of 1.62. The firm’s 50-day moving average is $3.63 and its 200 day moving average is $3.02. Vera Bradley has a 1 year low of $1.39 and a 1 year high of $4.39.

Hedge Funds Weigh In On Vera Bradley

A number of hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its stake in Vera Bradley by 19.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 340,083 shares of the textile maker’s stock worth $823,000 after purchasing an additional 55,120 shares in the last quarter. Marshall Wace LLP boosted its stake in Vera Bradley by 133.2% in the 4th quarter. Marshall Wace LLP now owns 467,127 shares of the textile maker’s stock worth $1,130,000 after purchasing an additional 266,785 shares in the last quarter. State Street Corp boosted its stake in Vera Bradley by 17.2% in the 4th quarter. State Street Corp now owns 103,586 shares of the textile maker’s stock worth $251,000 after purchasing an additional 15,200 shares in the last quarter. Jane Street Group LLC lifted its stake in Vera Bradley by 161.6% during the 4th quarter. Jane Street Group LLC now owns 294,195 shares of the textile maker’s stock valued at $712,000 after acquiring an additional 181,750 shares during the period. Finally, Cibc World Markets Corp bought a new position in Vera Bradley during the 4th quarter valued at about $242,000. Institutional investors own 59.88% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Vera Bradley from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Vera Bradley has an average rating of “Reduce”.

About Vera Bradley

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.