Insider Buying: Culp, Inc. (NYSE:CULP) Director Acquires $27,872.00 in Stock

Culp, Inc. (NYSE:CULP) Director Jonathan Lee Kelly purchased 5,200 shares of Culp stock in a transaction that occurred on Monday, July 22nd. The stock was bought at an average cost of $5.36 per share, with a total value of $27,872.00. Following the completion of the transaction, the director now owns 48,571 shares of the company’s stock, valued at $260,340.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Culp Stock Performance

NYSE CULP opened at $5.13 on Friday. The firm has a market cap of $63.97 million, a PE ratio of -4.62 and a beta of 1.22. Culp, Inc. has a one year low of $4.25 and a one year high of $5.99. The firm’s fifty day moving average is $4.62 and its two-hundred day moving average is $4.75.

Culp (NYSE:CULP) last posted its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. Culp had a negative net margin of 6.13% and a negative return on equity of 16.42%. During the same period in the previous year, the business posted ($0.38) earnings per share. Research analysts predict that Culp, Inc. will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gate City Capital Management LLC acquired a new position in shares of Culp during the fourth quarter worth about $6,010,000. Essex Investment Management Co. LLC acquired a new position in shares of Culp during the fourth quarter worth about $256,000. Finally, Vanguard Group Inc. increased its stake in shares of Culp by 4.2% during the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after acquiring an additional 19,640 shares during the period. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Thursday. They issued a “hold” rating on the 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.