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

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 4,220 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $5.17 per share, with a total value of $21,817.40. Following the purchase, the insider now directly owns 1,734,323 shares in the company, valued at $8,966,449.91. This represents a 0.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Stock Up 2.1 %

Shares of CULP opened at $5.61 on Thursday. The stock has a market capitalization of $70.39 million, a P/E ratio of -3.34 and a beta of 1.06. The firm has a fifty day simple moving average of $5.30 and a two-hundred day simple moving average of $5.47. Culp, Inc. has a twelve month low of $4.20 and a twelve month high of $6.85.

Institutional Investors Weigh In On Culp

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

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Culp in a research report on Friday, March 14th. They set 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.