Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Purchases 13,849 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 13,849 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $4.65 per share, with a total value of $64,397.85. Following the acquisition, the insider now directly owns 1,638,564 shares in the company, valued at approximately $7,619,322.60. This trade represents a 0.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 Performance

Shares of NYSE CULP opened at $5.13 on Thursday. Culp, Inc. has a 52 week low of $4.20 and a 52 week high of $6.85. The stock has a market capitalization of $64.43 million, a P/E ratio of -3.05 and a beta of 1.06. The stock’s fifty day moving average is $5.34 and its 200 day moving average is $5.46.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wealthedge Investment Advisors LLC bought a new position in shares of Culp in the 4th quarter valued at $137,000. Citadel Advisors LLC grew its position in Culp by 36.8% in 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 raised its stake in Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after acquiring an additional 11,929 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after purchasing an additional 12,830 shares in the last quarter. 75.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Culp in a research report on Thursday, March 6th. They set 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.