Investors Buy High Volume of Put Options on Vera Bradley (NASDAQ:VRA)

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Vera Bradley, Inc. (NASDAQ:VRA) was the recipient of some unusual options trading on Wednesday. Investors bought 2,837 put options on the company. This represents an increase of approximately 833% compared to the typical daily volume of 304 put options.

VRA stock opened at $8.26 on Friday. Vera Bradley has a 52-week low of $6.93 and a 52-week high of $13.62. The business’s fifty day simple moving average is $9.99. The firm has a market capitalization of $281.01 million, a PE ratio of 12.29 and a beta of 1.82.

Vera Bradley (NASDAQ:VRA) last issued its earnings results on Tuesday, December 7th. The textile maker reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.08). Vera Bradley had a net margin of 4.53% and a return on equity of 9.08%. The firm had revenue of $134.70 million during the quarter, compared to analyst estimates of $138.01 million. During the same quarter in the previous year, the business posted $0.30 EPS. Vera Bradley’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Vera Bradley will post 0.9 earnings per share for the current fiscal year.

A number of brokerages have commented on VRA. Zacks Investment Research upgraded Vera Bradley from a “sell” rating to a “hold” rating in a report on Wednesday, November 3rd. TheStreet upgraded Vera Bradley from a “c+” rating to a “b-” rating in a report on Tuesday, November 9th. Robert W. Baird restated a “hold” rating and set a $12.00 price objective on shares of Vera Bradley in a report on Thursday, September 2nd. Finally, Telsey Advisory Group decreased their price objective on Vera Bradley from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Vera Bradley presently has an average rating of “Hold” and a consensus price target of $12.25.

A number of institutional investors have recently modified their holdings of VRA. Metropolitan Life Insurance Co NY acquired a new position in Vera Bradley in the third quarter valued at $69,000. Lazard Asset Management LLC purchased a new position in Vera Bradley in the second quarter valued at about $92,000. Voya Investment Management LLC purchased a new position in Vera Bradley in the third quarter valued at about $96,000. Louisiana State Employees Retirement System raised its position in Vera Bradley by 23.0% in the third quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the textile maker’s stock valued at $116,000 after purchasing an additional 2,300 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Vera Bradley by 5,175.8% in the second quarter. Meeder Asset Management Inc. now owns 10,024 shares of the textile maker’s stock valued at $124,000 after purchasing an additional 9,834 shares during the period. Hedge funds and other institutional investors own 64.01% of the company’s stock.

About Vera Bradley

Vera Bradley, Inc designs, produces, markets and retails accessories for women. Its products include handbags, accessories and travel and leisure items. The company operates through the following segments: Vera Bradley Direct (VB Direct), Vera Bradley Indirect (VB Indirect), and Pura Vida. The VB Direct segment consists of sales of Vera Bradley products through Vera Bradley full-line and factory outlet stores in the United States; verabradley.com; the Vera Bradley online outlet site; and the Vera Bradley annual outlet sale in Fort Wayne, Indiana.

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