Culp, Inc. (NYSE:CULP) Major Shareholder Buys $21,817.40 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 4,220 shares of the stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $5.17 per share, with a total value of $21,817.40. Following the completion of the acquisition, the insider now owns 1,734,323 shares in the company, valued at approximately $8,966,449.91. This trade represents a 0.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Price Performance

Shares of Culp stock opened at $5.55 on Wednesday. The business has a 50-day moving average of $5.30 and a 200 day moving average of $5.47. Culp, Inc. has a 12 month low of $4.20 and a 12 month high of $6.85. The stock has a market capitalization of $69.64 million, a price-to-earnings ratio of -3.30 and a beta of 1.06.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Culp in a report on Friday, March 14th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Culp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the period. Citadel Advisors LLC raised its position in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after acquiring an additional 7,386 shares in the last quarter. Northern Trust Corp raised its position in shares of Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after acquiring an additional 14,634 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of Culp during the 4th quarter worth about $137,000. Finally, Ameriprise Financial Inc. raised its position in shares of Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after acquiring an additional 42,216 shares in the last quarter. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Culp Company Profile

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.