Culp, Inc. (NYSE:CULP) Major Shareholder Acquires $110,625.00 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 22,125 shares of the stock in a transaction on Wednesday, July 10th. The shares were purchased at an average cost of $5.00 per share, with a total value of $110,625.00. Following the transaction, the insider now directly owns 1,308,469 shares of the company’s stock, valued at approximately $6,542,345. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major 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 1.6 %

Shares of CULP opened at $5.12 on Friday. The stock has a market cap of $63.85 million, a P/E ratio of -4.61 and a beta of 1.22. The business’s 50 day moving average price is $4.47 and its 200-day moving average price is $4.77. Culp, Inc. has a 52 week low of $4.25 and a 52 week high of $5.99.

Culp (NYSE:CULP) last announced its quarterly earnings data 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 16.06% and a negative net margin of 6.13%. The business had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $49.76 million. During the same quarter in the previous year, the business earned ($0.38) earnings per share. On average, equities analysts anticipate that Culp, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Culp in a research note on Tuesday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Culp

A number of hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC purchased a new position in Culp in the fourth quarter worth about $256,000. Vanguard Group Inc. raised its holdings in Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after acquiring an additional 19,640 shares during the last quarter. Finally, Gate City Capital Management LLC purchased a new position in Culp in the 4th quarter worth approximately $6,010,000. Institutional investors own 75.05% of the company’s stock.

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.