Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $13,823.52 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 2,787 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was acquired at an average cost of $4.96 per share, with a total value of $13,823.52. Following the transaction, the insider now owns 1,597,177 shares in the company, valued at $7,921,997.92. The trade was a 0.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Stock Up 5.6 %

CULP traded up $0.29 during mid-day trading on Wednesday, reaching $5.47. 25,070 shares of the company traded hands, compared to its average volume of 20,257. The company’s fifty day moving average price is $5.42 and its 200-day moving average price is $5.14. The stock has a market capitalization of $68.32 million, a P/E ratio of -3.26 and a beta of 1.20. Culp, Inc. has a 52-week low of $4.25 and a 52-week high of $6.85.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 as of its most recent filing with the Securities & Exchange Commission. 75.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.