Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 23,300 shares, a growth of 27.3% from the December 15th total of 18,300 shares. Based on an average trading volume of 18,700 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Culp in a research report on Friday. They set a “hold” rating on the stock.

Culp Stock Performance

CULP stock traded down $0.12 during trading on Friday, hitting $5.48. 43,803 shares of the company traded hands, compared to its average volume of 23,580. Culp has a 1 year low of $4.25 and a 1 year high of $6.85. The company has a 50-day moving average of $5.40 and a 200-day moving average of $5.38. The firm has a market capitalization of $68.77 million, a PE ratio of -3.26 and a beta of 1.18.

Insiders Place Their Bets

In other Culp news, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the insider now directly owns 15,000 shares in the company, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 31,495 shares of company stock worth $167,062 in the last ninety days. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC boosted its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.05% of the company’s 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.