Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Acquires 2,300 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 2,300 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $5.23 per share, for a total transaction of $12,029.00. Following the transaction, the insider now owns 1,611,271 shares of the company’s stock, valued at approximately $8,426,947.33. This trade represents a 0.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

Shares of NYSE CULP traded up $0.29 during trading hours on Wednesday, hitting $5.47. 25,070 shares of the company’s stock were exchanged, compared to its average volume of 20,257. The company’s 50-day moving average price is $5.42 and its 200-day moving average price is $5.14. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $6.85. The stock has a market capitalization of $68.32 million, a price-to-earnings ratio of -3.26 and a beta of 1.20.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Culp in a research note on Sunday. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

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

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.