Culp, Inc. (NYSE:CULP) Short Interest Up 36.0% in March

Culp, Inc. (NYSE:CULP) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 31,000 shares, a growth of 36.0% from the February 28th total of 22,800 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 24,800 shares, the days-to-cover ratio is currently 1.3 days.

Culp Stock Down 2.9 %

Shares of Culp stock traded down $0.14 during trading hours on Tuesday, hitting $4.86. The company’s stock had a trading volume of 33,939 shares, compared to its average volume of 21,118. The business has a fifty day moving average of $5.24 and a 200 day moving average of $5.46. Culp has a 1-year low of $4.20 and a 1-year high of $6.85. The company has a market capitalization of $60.99 million, a PE ratio of -2.89 and a beta of 1.06.

Analyst Ratings Changes

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

Insider Buying and Selling at Culp

In other news, major shareholder Aron R. English bought 13,849 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $4.65 per share, with a total value of $64,397.85. Following the transaction, the insider now owns 1,638,564 shares of the company’s stock, valued at $7,619,322.60. This represents a 0.85 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert George Iv Culp purchased 14,001 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $4.94 per share, with a total value of $69,164.94. Following the transaction, the chief executive officer now owns 92,030 shares of the company’s stock, valued at $454,628.20. This trade represents a 17.94 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 67,403 shares of company stock worth $345,152 in the last 90 days. 7.30% of the stock is owned by company insiders.

Institutional Trading of Culp

Several large investors have recently added to or reduced their stakes in CULP. Geode Capital Management LLC boosted its position in shares of Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares during the period. Citadel Advisors LLC grew its stake in Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 7,386 shares in the last quarter. Northern Trust Corp increased its holdings in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in Culp in the fourth quarter valued at $137,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Culp by 8.4% during the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.