Fund 1 Investments LLC Sells 692,101 Shares of Vera Bradley, Inc. $VRA

Key Points

• Fund 1 Investments LLC cut its Vera Bradley stake by 87.1% in the second quarter, selling 692,101 shares and retaining 102,899 shares valued at approximately $400,000.
• Vera Bradley reported quarterly revenue of $55.7 million and an adjusted loss of $0.09 per share, beating analysts’ expectations, but remains unprofitable with a negative net margin and projected full-year loss.
• The stock opened at $3.35, near the middle of its 52-week range, while analyst sentiment remained weak: ratings included one Hold and one Sell, resulting in a consensus “Reduce” rating.

Fund 1 Investments LLC lessened its stake in Vera Bradley, Inc. (NASDAQ:VRA - Free Report) by 87.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,899 shares of the textile maker's stock after selling 692,101 shares during the period. Fund 1 Investments LLC owned 0.36% of Vera Bradley worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in VRA. Jump Financial LLC purchased a new stake in shares of Vera Bradley during the second quarter valued at about $28,000. Algert Global LLC bought a new stake in shares of Vera Bradley in the 2nd quarter valued at about $51,000. Qube Research & Technologies Ltd purchased a new position in shares of Vera Bradley in the 3rd quarter worth approximately $49,000. Simplex Trading LLC grew its position in shares of Vera Bradley by 55.0% in the 4th quarter. Simplex Trading LLC now owns 35,083 shares of the textile maker's stock worth $85,000 after buying an additional 12,442 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Vera Bradley during the 2nd quarter worth approximately $158,000. 59.88% of the stock is currently owned by institutional investors.

Vera Bradley Stock Performance

Shares of NASDAQ VRA opened at $3.35 on Friday. The company has a market cap of $95.27 million, a PE ratio of -4.86 and a beta of 1.59. The business has a 50-day simple moving average of $3.54 and a two-hundred day simple moving average of $3.47. Vera Bradley, Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $4.39.

Vera Bradley (NASDAQ:VRA - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The textile maker reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.24. The business had revenue of $55.70 million for the quarter, compared to analyst estimates of $49.12 million. Vera Bradley had a negative return on equity of 6.66% and a negative net margin of 7.02%. On average, sell-side analysts predict that Vera Bradley, Inc. will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew Meslow bought 24,926 shares of the company's stock in a transaction on Friday, June 12th. The shares were bought at an average price of $3.73 per share, with a total value of $92,973.98. Following the transaction, the director owned 650,000 shares in the company, valued at approximately $2,424,500. This trade represents a 3.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VRA shares. Wall Street Zen cut shares of Vera Bradley from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vera Bradley in a report on Monday, June 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce".

Vera Bradley Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.