Culp, Inc. (NYSE:CULP) Major Shareholder Buys $12,029.00 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 2,300 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $5.23 per share, with a total value of $12,029.00. Following the acquisition, the insider now owns 1,611,271 shares in the company, valued at approximately $8,426,947.33. This trade represents a 0.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

NYSE:CULP opened at $5.44 on Friday. The firm has a market cap of $68.33 million, a price-to-earnings ratio of -3.28 and a beta of 1.20. The company has a 50 day moving average price of $5.41 and a 200-day moving average price of $5.15. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $6.85.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its holdings in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 as of its most recent filing with the Securities & Exchange Commission. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Culp in a research report on Sunday, December 8th. They set 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.