Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Buys 20,000 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 20,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of $5.60 per share, with a total value of $112,000.00. Following the completion of the purchase, the insider now owns 1,859,061 shares of the company’s stock, valued at approximately $10,410,741.60. The trade was a 1.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Trading Down 4.6 %

Shares of CULP traded down $0.26 on Thursday, reaching $5.34. 21,690 shares of the company’s stock traded hands, compared to its average volume of 21,105. The stock has a market cap of $67.12 million, a PE ratio of -3.18 and a beta of 1.06. The stock’s 50 day simple moving average is $5.30 and its two-hundred day simple moving average is $5.47. Culp, Inc. has a 52-week low of $4.20 and a 52-week high of $6.85.

Institutional Trading of Culp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Culp by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after acquiring an additional 5,091 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Culp by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 7,386 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after acquiring an additional 11,929 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 14,634 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Culp in a research note on Friday, March 14th. They issued 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.