Aron R. English Purchases 105,242 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 105,242 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $6.31 per share, with a total value of $664,077.02. Following the transaction, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Up 2.2 %

Culp stock opened at $6.49 on Friday. The firm has a fifty day moving average of $5.16 and a 200-day moving average of $4.75. Culp, Inc. has a 52-week low of $4.25 and a 52-week high of $6.77. The firm has a market capitalization of $80.93 million, a P/E ratio of -5.85 and a beta of 1.18.

Culp (NYSE:CULP) last released its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating the consensus estimate 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 return on equity of 19.51% and a negative net margin of 7.88%. During the same period last year, the company posted ($0.38) earnings per share.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its position in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Culp in a report on Thursday. They set a “hold” rating for the company.

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.