Insider Buying: Culp, Inc. (NYSE:CULP) Director Acquires 5,200 Shares of Stock

Culp, Inc. (NYSE:CULP) Director Jonathan Lee Kelly acquired 5,200 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $5.36 per share, for a total transaction of $27,872.00. Following the acquisition, the director now owns 48,571 shares in the company, valued at $260,340.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Culp Trading Up 0.4 %

Culp stock opened at $5.13 on Friday. The stock has a market cap of $63.97 million, a price-to-earnings ratio of -4.62 and a beta of 1.22. The company’s 50-day moving average price is $4.62 and its two-hundred day moving average price is $4.75. Culp, Inc. has a 52 week low of $4.25 and a 52 week high of $5.99.

Culp (NYSE:CULP) last released its earnings results on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $49.53 million for the quarter, compared to analysts’ expectations of $49.76 million. Culp had a negative net margin of 6.13% and a negative return on equity of 16.42%. During the same quarter last year, the company earned ($0.38) EPS. Research analysts expect that Culp, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Culp in a report on Thursday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Culp

Several large investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new position in shares of Culp in the 4th quarter worth approximately $256,000. Gate City Capital Management LLC acquired a new position in shares of Culp in the 4th quarter worth approximately $6,010,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 19,640 shares during the last quarter. Institutional investors and hedge funds 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.