Culp, Inc. (NYSE:CULP) Short Interest Up 27.3% in December

Culp, Inc. (NYSE:CULP) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 23,300 shares, an increase of 27.3% from the December 15th total of 18,300 shares. Based on an average daily volume of 18,700 shares, the short-interest ratio is presently 1.2 days. Currently, 0.2% of the company’s shares are short sold.

Culp Stock Performance

NYSE:CULP traded down $0.12 during trading hours on Friday, reaching $5.48. The company’s stock had a trading volume of 43,803 shares, compared to its average volume of 23,580. The company has a market capitalization of $68.77 million, a P/E ratio of -3.26 and a beta of 1.18. The stock has a 50 day moving average price of $5.40 and a two-hundred day moving average price of $5.37. Culp has a 12 month low of $4.25 and a 12 month high of $6.85.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Culp in a report on Friday. They issued a “hold” rating for the company.

Insiders Place Their Bets

In other news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of Culp stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at $83,250. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,495 shares of company stock worth $167,062 over the last quarter. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the quarter. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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.