Insider Buying: Culp, Inc. (NYSE:CULP) CEO Acquires 16,128 Shares of Stock

Culp, Inc. (NYSE:CULPGet Free Report) CEO Robert George Iv Culp purchased 16,128 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the transaction, the chief executive officer now owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Culp Price Performance

Culp stock opened at $5.64 on Thursday. The firm has a market cap of $70.33 million, a PE ratio of -5.08 and a beta of 1.18. The stock’s fifty day moving average price is $5.00 and its two-hundred day moving average price is $4.69. Culp, Inc. has a one year low of $4.25 and a one year high of $5.99.

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

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Culp in a report on Wednesday. They set a “hold” rating on the stock.

Check Out Our Latest Stock Analysis on Culp

Hedge Funds Weigh In On Culp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new stake in shares of Culp during the 4th quarter worth approximately $256,000. Gate City Capital Management LLC bought a new stake in Culp during the fourth quarter worth $6,010,000. Finally, Vanguard Group Inc. lifted its stake in 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 purchasing an additional 19,640 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Culp Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Culp (NYSE:CULP)

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