Culp, Inc. (NYSE:CULP) Sees Significant Increase in Short Interest

Culp, Inc. (NYSE:CULP) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 23,300 shares, a growth of 9.9% from the October 15th total of 21,200 shares. Based on an average daily volume of 19,600 shares, the short-interest ratio is currently 1.2 days. Currently, 0.2% of the shares of the company are sold short.

Insider Buying and Selling at Culp

In related news, Director Sharon A. Decker acquired 5,000 shares of Culp stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the acquisition, the director now directly owns 45,383 shares of the company’s stock, valued at $271,844.17. This trade represents a 12.38 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aron R. English bought 105,242 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average price of $6.31 per share, with a total value of $664,077.02. Following the transaction, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. This represents a 7.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 238,959 shares of company stock valued at $1,440,336 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC grew its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,825 shares of the textile maker’s stock after buying 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 and Exchange Commission. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Trading Down 0.2 %

NYSE CULP traded down $0.01 during trading on Monday, reaching $5.06. 5,182 shares of the company’s stock were exchanged, compared to its average volume of 20,394. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The company’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $5.06. The firm has a market capitalization of $63.20 million, a PE ratio of -3.57 and a beta of 1.22.

Culp (NYSE:CULP) last released its quarterly earnings data 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 return on equity of 19.51% and a negative net margin of 7.88%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Culp in a report on Thursday. They set a “hold” rating on the 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.