Culp, Inc. (NYSE:CULP) Short Interest Up 36.0% in March

Culp, Inc. (NYSE:CULP) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 31,000 shares, a growth of 36.0% from the February 28th total of 22,800 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 24,800 shares, the short-interest ratio is currently 1.3 days.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Culp in a research note on Sunday. They set a “hold” rating for the company.

Insider Activity

In related news, major shareholder Aron R. English purchased 13,849 shares of Culp stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $4.65 per share, for a total transaction of $64,397.85. Following the acquisition, the insider now owns 1,638,564 shares in the company, valued at approximately $7,619,322.60. The trade was a 0.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert George Iv Culp acquired 14,001 shares of the company’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $4.94 per share, with a total value of $69,164.94. Following the acquisition, the chief executive officer now directly owns 92,030 shares in the company, valued at approximately $454,628.20. The trade was a 17.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 67,403 shares of company stock worth $345,152 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC purchased a new stake in Culp during the fourth quarter valued at approximately $137,000. Citadel Advisors LLC raised its holdings in Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares during the period. HighTower Advisors LLC lifted its position in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after buying an additional 11,929 shares during the last quarter. Northern Trust Corp boosted its stake in Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the period. Finally, Geode Capital Management LLC increased its position in Culp by 14.1% during the third 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 last quarter. Institutional investors own 75.05% of the company’s stock.

Culp Stock Down 2.9 %

Culp stock opened at $4.86 on Wednesday. Culp has a 52-week low of $4.20 and a 52-week high of $6.85. The firm’s fifty day moving average is $5.24 and its 200 day moving average is $5.46. The company has a market cap of $60.99 million, a price-to-earnings ratio of -2.89 and a beta of 1.06.

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.