Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Buys 4,564 Shares

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 4,564 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $5.23 per share, for a total transaction of $23,869.72. Following the purchase, the insider now owns 1,624,715 shares of the company’s stock, valued at $8,497,259.45. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Trading Up 2.8 %

Shares of Culp stock opened at $5.47 on Friday. The stock has a market capitalization of $68.70 million, a price-to-earnings ratio of -3.26 and a beta of 1.20. The firm’s 50-day moving average price is $5.35 and its two-hundred day moving average price is $5.18. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $6.85.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 at the end of the most recent quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Culp in a research note on Monday, December 16th. They issued a “hold” rating on the stock.

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.