Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $21,817.40 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 4,220 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $5.17 per share, for a total transaction of $21,817.40. Following the acquisition, the insider now directly owns 1,734,323 shares in the company, valued at $8,966,449.91. The trade was a 0.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Performance

NYSE:CULP opened at $5.18 on Tuesday. The firm has a market cap of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85. The firm has a 50-day moving average price of $5.30 and a two-hundred day moving average price of $5.46.

Institutional Investors Weigh In On Culp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CULP. Wealthedge Investment Advisors LLC purchased a new stake in Culp in the 4th quarter valued at about $137,000. Citadel Advisors LLC increased its stake in Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares during the last quarter. HighTower Advisors LLC increased its stake in Culp by 49.5% in the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after buying an additional 11,929 shares during the last quarter. Northern Trust Corp increased its stake in Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after buying an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the period. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Culp in a report on Friday. They issued 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.