Culp, Inc. (NYSE:CULP) Major Shareholder Buys $12,029.00 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $5.23 per share, with a total value of $12,029.00. Following the completion of the acquisition, the insider now owns 1,611,271 shares of the company’s stock, valued at $8,426,947.33. This trade represents a 0.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Price Performance

CULP traded up $0.29 during trading on Wednesday, reaching $5.47. 25,070 shares of the stock traded hands, compared to its average volume of 20,257. The stock has a market cap of $68.32 million, a price-to-earnings ratio of -3.26 and a beta of 1.20. Culp, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The stock’s 50-day simple moving average is $5.42 and its two-hundred day simple moving average is $5.14.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Sunday. They set a “hold” rating for the company.

Institutional Trading of Culp

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

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.