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

Key Points

• Short interest jumped to 1,405,998 shares as of March 13 (a 22.8% increase from Feb. 26), equal to about 5.6% of the stock and a short-interest ratio of 1.9 days.
• Institutional investors own 59.88% of VRA, with several funds increasing stakes—Marshall Wace (+133.2%), Jane Street (+161.6%), Bridgeway (+19.3%)—and Impala Asset establishing a new position.
• Vera Bradley beat the quarter with EPS of $0.09 (vs. $0.01 est.) and revenue of $84.89M (vs. $79.73M) but remains unprofitable (negative ROE and a -17.74% net margin) and holds an average analyst rating of "Reduce" despite recent upgrades to "Hold."

Vera Bradley, Inc. (NASDAQ:VRA - Get Free Report) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,405,998 shares, a growth of 22.8% from the February 26th total of 1,144,785 shares. Approximately 5.6% of the company's stock are short sold. Based on an average daily trading volume, of 748,604 shares, the short-interest ratio is currently 1.9 days.

Institutional Trading of Vera Bradley

A number of institutional investors and hedge funds have recently modified their holdings of VRA. Bridgeway Capital Management LLC increased its position 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 buying an additional 55,120 shares during the period. Impala Asset Management LLC acquired a new stake in shares of Vera Bradley in the fourth quarter worth $976,000. Marshall Wace LLP grew its stake in shares of Vera Bradley by 133.2% in the fourth quarter. Marshall Wace LLP now owns 467,127 shares of the textile maker's stock worth $1,130,000 after acquiring an additional 266,785 shares during the last quarter. State Street Corp increased its position in Vera Bradley by 17.2% during the fourth quarter. State Street Corp now owns 103,586 shares of the textile maker's stock worth $251,000 after acquiring an additional 15,200 shares during the period. Finally, Jane Street Group LLC increased its position in Vera Bradley by 161.6% during the fourth quarter. Jane Street Group LLC now owns 294,195 shares of the textile maker's stock worth $712,000 after acquiring an additional 181,750 shares during the period. 59.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VRA shares. Wall Street Zen raised shares of Vera Bradley from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Zacks Research raised Vera Bradley from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Vera Bradley presently has an average rating of "Reduce".

Vera Bradley Stock Performance

VRA opened at $3.21 on Monday. The company has a market cap of $89.72 million, a PE ratio of -1.87 and a beta of 1.76. The stock has a 50-day moving average of $2.81 and a 200-day moving average of $2.52. Vera Bradley has a 52-week low of $1.39 and a 52-week high of $3.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 2.37.

Vera Bradley (NASDAQ:VRA - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The textile maker reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.08. Vera Bradley had a negative return on equity of 12.00% and a negative net margin of 17.74%.The business had revenue of $84.89 million for the quarter, compared to the consensus estimate of $79.73 million. As a group, equities research analysts forecast that Vera Bradley will post -0.25 earnings per share for the current fiscal year.

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.

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