Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 23,300 shares, a growth of 9.9% from the October 15th total of 21,200 shares. Based on an average daily trading volume, of 19,600 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Culp in a report on Thursday, November 14th. They set a “hold” rating for the company.

Insider Transactions at Culp

In other Culp news, CEO Robert George Iv Culp acquired 16,128 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $5.71 per share, for a total transaction of $92,090.88. Following the acquisition, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. This trade represents a 30.21 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aron R. English bought 105,242 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $6.31 per share, with a total value of $664,077.02. Following the completion of the purchase, the insider now owns 1,594,390 shares in the company, valued at $10,060,600.90. This represents a 7.07 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent quarter. Institutional investors own 75.05% of the company’s stock.

Culp Price Performance

Shares of NYSE:CULP opened at $5.07 on Tuesday. The company’s 50-day moving average price is $5.73 and its two-hundred day moving average price is $5.06. Culp has a one year low of $4.25 and a one year high of $6.85. The stock has a market capitalization of $63.32 million, a PE ratio of -3.57 and a beta of 1.22.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) EPS for the quarter. The company had revenue of $56.54 million for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

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.