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

Culp, Inc. (NYSE:CULP) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 23,300 shares, an increase of 27.3% from the December 15th total of 18,300 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 18,700 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares in the company, valued at approximately $422,917.18. This represents a 12.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the insider now owns 15,000 shares in the company, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 31,495 shares of company stock valued at $167,062. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew its holdings in Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Culp Trading Down 2.1 %

NYSE CULP traded down $0.12 on Friday, hitting $5.48. 43,803 shares of the company traded hands, compared to its average volume of 23,580. The company has a market capitalization of $68.77 million, a price-to-earnings ratio of -3.26 and a beta of 1.18. The business’s 50 day moving average price is $5.40 and its 200-day moving average price is $5.38. Culp has a 52-week low of $4.25 and a 52-week high of $6.85.

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.