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

Culp, Inc. (NYSE:CULP) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 23,300 shares, a growth of 9.9% from the October 15th total of 21,200 shares. Based on an average daily trading volume, of 19,600 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.2% of the company’s shares are short sold.

Culp Price Performance

Shares of NYSE:CULP opened at $5.07 on Friday. The business has a 50-day moving average of $5.73 and a two-hundred day moving average of $5.05. The firm has a market capitalization of $63.32 million, a PE ratio of -3.57 and a beta of 1.22. Culp has a 12 month low of $4.25 and a 12 month high of $6.85.

Culp (NYSE:CULP) last issued its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The firm had revenue of $56.54 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Culp in a report on Thursday. They set a “hold” rating for the company.

Insider Buying and Selling

In related news, major shareholder Aron R. English acquired 105,242 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $6.31 per share, with a total value of $664,077.02. Following the purchase, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. The trade was a 7.07 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert George Iv Culp bought 16,128 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought 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 directly owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. The trade was a 30.21 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. lifted its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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.