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

Culp, Inc. (NYSE:CULP) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 18,000 shares, a decline of 11.8% from the November 15th total of 20,400 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 21,900 shares, the days-to-cover ratio is presently 0.8 days.

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English acquired 105,242 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now owns 1,594,390 shares of the company’s stock, valued at $10,060,600.90. This represents a 7.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert George Iv Culp acquired 8,508 shares of the stock in a transaction dated Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This represents a 12.24 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 231,321 shares of company stock valued at $1,390,274 in the last three months. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. boosted its stake in Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Sunday, December 8th. They set a “hold” rating for the company.

Culp Price Performance

Shares of CULP traded down $0.28 during mid-day trading on Friday, reaching $5.50. The company’s stock had a trading volume of 25,017 shares, compared to its average volume of 20,379. Culp has a 12-month low of $4.25 and a 12-month high of $6.85. The stock has a market cap of $69.08 million, a PE ratio of -3.27 and a beta of 1.20. The company’s 50 day moving average is $5.40 and its 200 day moving average is $5.16.

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.