Culp, Inc. (NYSE:CULP) Major Shareholder Buys $599,531.40 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 102,484 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were acquired at an average price of $5.85 per share, with a total value of $599,531.40. Following the transaction, the insider now directly owns 1,456,827 shares of the company’s stock, valued at $8,522,437.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Performance

CULP stock opened at $6.47 on Friday. The company has a market capitalization of $80.68 million, a PE ratio of -5.83 and a beta of 1.18. The company’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $4.75. Culp, Inc. has a one year low of $4.25 and a one year high of $6.77.

Culp (NYSE:CULP) last announced its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. During the same quarter in the previous year, the business earned ($0.38) EPS.

Institutional Trading of Culp

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC purchased a new position in Culp, Inc. (NYSE:CULP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp makes up about 5.7% of Gate City Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Gate City Capital Management LLC owned about 8.32% of Culp as of its most recent filing with the SEC. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Culp in a research report on Thursday. They set a “hold” rating for the company.

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.