Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Purchases 20,000 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $5.60 per share, for a total transaction of $112,000.00. Following the transaction, the insider now owns 1,859,061 shares in the company, valued at $10,410,741.60. This represents a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Stock Down 4.6 %

NYSE:CULP traded down $0.26 on Thursday, hitting $5.34. The stock had a trading volume of 21,690 shares, compared to its average volume of 21,105. The business’s fifty day moving average is $5.30 and its 200 day moving average is $5.47. The company has a market cap of $67.12 million, a PE ratio of -3.18 and a beta of 1.06. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Culp in a research report on Friday, March 14th. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after acquiring an additional 12,830 shares in the last quarter. Citadel Advisors LLC boosted its holdings in Culp by 36.8% in the fourth 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 boosted its holdings in Culp by 35.2% in the fourth 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 purchased a new stake in shares of Culp in the fourth quarter worth approximately $137,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

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.