Culp, Inc. (NYSE:CULP) Short Interest Down 5.8% in October

Culp, Inc. (NYSE:CULP) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 4,900 shares, a decrease of 5.8% from the October 15th total of 5,200 shares. Based on an average trading volume of 17,400 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Culp in a report on Sunday, November 12th. They issued a “sell” rating on the stock.

Culp Price Performance

NYSE:CULP traded down $0.09 on Friday, reaching $5.17. The stock had a trading volume of 18,315 shares, compared to its average volume of 16,727. The company has a market cap of $64.40 million, a price-to-earnings ratio of -2.20 and a beta of 1.28. The firm’s fifty day moving average is $5.55 and its two-hundred day moving average is $5.31. Culp has a 12-month low of $4.16 and a 12-month high of $5.99.

Culp (NYSE:CULP) last released its earnings results on Wednesday, August 30th. The textile maker reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.11. The company had revenue of $56.66 million for the quarter, compared to analyst estimates of $59.73 million. Culp had a negative net margin of 12.74% and a negative return on equity of 30.41%. As a group, research analysts forecast that Culp will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Culp

In other Culp news, insider Thomas Bruno acquired 6,965 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $5.56 per share, with a total value of $38,725.40. Following the purchase, the insider now owns 29,522 shares in the company, valued at $164,142.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 13,389 shares of company stock valued at $75,416. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CULP. BlackRock Inc. lifted its holdings in shares of Culp by 10.0% during the 1st quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock worth $3,190,000 after acquiring an additional 36,372 shares during the period. Ancora Advisors LLC raised its holdings in Culp by 23.4% in the first quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock valued at $4,295,000 after buying an additional 52,982 shares during the period. Engineers Gate Manager LP purchased a new position in Culp in the first quarter valued at approximately $112,000. State Street Corp raised its holdings in Culp by 5.2% in the first quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock valued at $330,000 after buying an additional 2,071 shares during the period. Finally, Keeley Teton Advisors LLC raised its holdings in Culp by 23.8% in the first quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock valued at $3,010,000 after buying an additional 72,775 shares during the period. 53.69% of the stock is currently owned by hedge funds and other institutional investors.

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.