Culp, Inc. (NYSE:CULP) Short Interest Down 31.2% in September

Culp, Inc. (NYSE:CULP) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 21,200 shares, a drop of 31.2% from the September 15th total of 30,800 shares. Based on an average trading volume of 19,600 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the shares of the stock are sold short. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 19,600 shares, the short-interest ratio is currently 1.1 days.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp acquired 7,428 shares of the stock in a transaction on Monday, September 22nd. The shares were purchased at an average price of $4.42 per share, for a total transaction of $32,831.76. Following the purchase, the chief executive officer directly owned 111,458 shares in the company, valued at approximately $492,644.36. The trade was a 7.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 15,147 shares of company stock worth $66,292. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Culp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Culp during the 3rd quarter worth $51,000. Arbor Investment Advisors LLC bought a new stake in Culp during the 3rd quarter worth $187,000. Wealthedge Investment Advisors LLC grew its position in Culp by 132.2% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 54,045 shares of the textile maker’s stock worth $270,000 after acquiring an additional 30,772 shares during the last quarter. Ameriprise Financial Inc. grew its position in Culp by 10.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock worth $2,731,000 after acquiring an additional 62,932 shares during the last quarter. Finally, 22NW LP grew its position in Culp by 14.4% during the 1st quarter. 22NW LP now owns 1,859,061 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 234,346 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Culp in a research note on Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Culp Trading Down 1.5%

Shares of CULP opened at $4.19 on Friday. Culp has a 52-week low of $3.42 and a 52-week high of $5.94. The business’s fifty day moving average is $4.29 and its 200-day moving average is $4.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.81 and a current ratio of 1.86. The firm has a market cap of $52.74 million, a price-to-earnings ratio of -4.32 and a beta of 1.08.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.10. Culp had a negative return on equity of 11.68% and a negative net margin of 5.82%.The company had revenue of $50.69 million for the quarter, compared to analyst estimates of $57.50 million. During the same quarter last year, the company posted ($0.36) EPS.

About Culp

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.