Vera Bradley, Inc. (NASDAQ:VRA) Sees Significant Decrease in Short Interest

Vera Bradley, Inc. (NASDAQ:VRA) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 601,300 shares, a decrease of 23.6% from the March 15th total of 786,800 shares. Based on an average daily volume of 317,900 shares, the short-interest ratio is currently 1.9 days. Approximately 2.7% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Vera Bradley from a “buy” rating to a “strong-buy” rating in a report on Saturday.

Vera Bradley Stock Down 2.6 %

NASDAQ VRA opened at $6.35 on Friday. The firm’s 50 day moving average is $7.10 and its 200-day moving average is $7.24. The company has a market capitalization of $195.51 million, a PE ratio of 25.40 and a beta of 1.89. Vera Bradley has a 12-month low of $4.60 and a 12-month high of $8.35.

Vera Bradley (NASDAQ:VRA) last released its earnings results on Wednesday, March 13th. The textile maker reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). Vera Bradley had a net margin of 1.66% and a return on equity of 6.69%. The business had revenue of $133.27 million during the quarter, compared to the consensus estimate of $136.06 million. As a group, sell-side analysts expect that Vera Bradley will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Vera Bradley

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Vera Bradley during the third quarter worth about $44,000. Quadrature Capital Ltd raised its stake in shares of Vera Bradley by 43.2% during the 3rd quarter. Quadrature Capital Ltd now owns 14,897 shares of the textile maker’s stock worth $45,000 after purchasing an additional 4,494 shares in the last quarter. Citigroup Inc. bought a new stake in shares of Vera Bradley during the 2nd quarter worth approximately $50,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Vera Bradley by 73.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,174 shares of the textile maker’s stock valued at $55,000 after buying an additional 3,044 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of Vera Bradley in the fourth quarter valued at $56,000. Institutional investors own 59.88% of the company’s stock.

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 three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including ID holders, lanyards, wallets, wristlets, eyewear, scarves, hair accessories, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.