Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $30,688.85 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 6,077 shares of Culp stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $5.05 per share, for a total transaction of $30,688.85. Following the transaction, the insider now directly owns 1,711,304 shares in the company, valued at approximately $8,642,085.20. The trade was a 0.36 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Stock Up 3.3 %

Shares of NYSE CULP opened at $5.18 on Friday. The company has a market capitalization of $64.99 million, a PE ratio of -3.08 and a beta of 1.06. Culp, Inc. has a twelve month low of $4.20 and a twelve month high of $6.85. The firm has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $5.46.

Institutional Investors Weigh In On Culp

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC acquired a new position in Culp in the fourth quarter valued at approximately $137,000. Citadel Advisors LLC increased its stake in shares of Culp by 36.8% in the 4th 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 in the last quarter. HighTower Advisors LLC lifted its position in shares of Culp by 49.5% during the 4th 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 period. Northern Trust Corp boosted its position in shares of Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after acquiring an additional 12,830 shares in the last quarter. Institutional investors own 75.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Culp in a research report on Friday. They set 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.