Culp, Inc. (NYSE:CULP) Short Interest Down 16.7% in September

Culp, Inc. (NYSE:CULP) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 22,500 shares, a decrease of 16.7% from the September 15th total of 27,000 shares. Based on an average daily trading volume, of 22,500 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the shares of the stock are short sold.

Culp Price Performance

Shares of CULP stock traded down $0.04 during trading hours on Monday, reaching $5.90. The company had a trading volume of 5,793 shares, compared to its average volume of 21,363. Culp has a 1-year low of $4.25 and a 1-year high of $6.85. The company has a 50 day moving average of $5.42 and a 200 day moving average of $4.90. The firm has a market cap of $73.57 million, a price-to-earnings ratio of -5.35 and a beta of 1.19.

Culp (NYSE:CULP) last announced its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) EPS for the quarter. The firm had revenue of $56.54 million during the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

Insiders Place Their Bets

In related news, major shareholder Aron R. English purchased 9,703 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was purchased at an average price of $5.19 per share, with a total value of $50,358.57. Following the completion of the transaction, the insider now owns 1,331,447 shares of the company’s stock, valued at approximately $6,910,209.93. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Culp news, major shareholder Aron R. English bought 9,703 shares of Culp stock in a transaction dated Tuesday, July 16th. The stock was bought at an average cost of $5.19 per share, for a total transaction of $50,358.57. Following the purchase, the insider now owns 1,331,447 shares in the company, valued at $6,910,209.93. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp purchased 16,128 shares of the stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $5.71 per share, with a total value of $92,090.88. Following the completion of the acquisition, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 261,483 shares of company stock worth $1,558,117. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. boosted its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Culp in a research note on Sunday. They issued 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.