Aron R. English Purchases 2,453 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 2,453 shares of Culp stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $5.48 per share, for a total transaction of $13,442.44. Following the completion of the acquisition, the insider now owns 1,354,343 shares in the company, valued at approximately $7,421,799.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

NYSE:CULP traded up $0.19 during trading hours on Wednesday, reaching $5.64. The company’s stock had a trading volume of 19,693 shares, compared to its average volume of 19,775. Culp, Inc. has a one year low of $4.25 and a one year high of $5.99. The business’s 50-day moving average is $4.98 and its 200-day moving average is $4.69. The company has a market cap of $70.33 million, a price-to-earnings ratio of -4.94 and a beta of 1.18.

Culp (NYSE:CULP) last posted its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative net margin of 7.88% and a negative return on equity of 18.84%. The business had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. During the same period in the previous year, the firm posted ($0.38) earnings per share.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Culp in a research note on Wednesday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Culp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new stake in shares of Culp during the 4th quarter worth approximately $256,000. Vanguard Group Inc. increased its position in shares of Culp by 4.2% during the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after acquiring an additional 19,640 shares in the last quarter. Finally, Gate City Capital Management LLC bought a new position in shares of Culp during the fourth quarter valued at about $6,010,000. 75.05% of the stock is owned by institutional investors.

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.