Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $45,750.48 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 9,006 shares of the business’s stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $5.08 per share, for a total transaction of $45,750.48. Following the completion of the acquisition, the insider now directly owns 1,730,103 shares of the company’s stock, valued at approximately $8,788,923.24. The trade was a 0.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

Shares of CULP opened at $5.61 on Thursday. The firm has a market capitalization of $70.39 million, a PE ratio of -3.34 and a beta of 1.06. Culp, Inc. has a 1-year low of $4.20 and a 1-year high of $6.85. The company’s fifty day moving average price is $5.30 and its 200-day moving average price is $5.47.

Institutional Investors Weigh In On Culp

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings 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 buying an additional 12,830 shares during the last quarter. Citadel Advisors LLC boosted its holdings 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 purchasing an additional 7,386 shares during the last quarter. Northern Trust Corp boosted its holdings in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 14,634 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in Culp in the fourth quarter valued at $137,000. Finally, Ameriprise Financial Inc. boosted its holdings in Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock valued at $3,181,000 after purchasing an additional 42,216 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Culp in a report on Friday, March 14th. They set a “hold” rating on the stock.

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.