Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 21,200 shares, a drop of 5.8% from the September 30th total of 22,500 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 20,700 shares, the short-interest ratio is presently 1.0 days.

Culp Stock Performance

NYSE CULP traded down $0.27 during trading on Thursday, hitting $5.15. The stock had a trading volume of 3,367 shares, compared to its average volume of 20,620. The stock has a market capitalization of $64.22 million, a price-to-earnings ratio of -4.86 and a beta of 1.19. Culp has a one year low of $4.25 and a one year high of $6.85. The stock has a 50 day simple moving average of $5.68 and a 200 day simple moving average of $5.00.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Robert George Iv Culp acquired 16,128 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Aron R. English purchased 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the transaction, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert George Iv Culp purchased 16,128 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $5.71 per share, with a total value of $92,090.88. Following the transaction, the chief executive officer now owns 69,521 shares of the company’s stock, valued at $396,964.91. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 238,959 shares of company stock worth $1,440,336 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. boosted its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. Institutional investors own 75.05% of the company’s stock.

About Culp

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.