Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Buys 13,849 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 13,849 shares of the company’s stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $4.65 per share, with a total value of $64,397.85. Following the completion of the transaction, the insider now directly owns 1,638,564 shares of the company’s stock, valued at approximately $7,619,322.60. The trade was a 0.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 firm has a market cap of $64.43 million, a PE ratio of -3.05 and a beta of 1.06. The firm’s fifty day moving average is $5.34 and its 200-day moving average is $5.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CULP. Wealthedge Investment Advisors LLC acquired a new stake in shares of Culp in the fourth quarter valued at about $137,000. 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 acquiring an additional 7,386 shares during the last quarter. HighTower Advisors LLC increased its position in 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 purchasing an additional 11,929 shares during the period. Northern Trust Corp raised its holdings in 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares during the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Culp in a report on Thursday, March 6th. They issued 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.