Culp, Inc. (NYSE:CULP) Major Shareholder Purchases $23,869.72 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 4,564 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $5.23 per share, with a total value of $23,869.72. Following the acquisition, the insider now directly owns 1,624,715 shares of the company’s stock, valued at $8,497,259.45. The trade was a 0.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Culp Stock Up 2.8 %

CULP opened at $5.47 on Monday. The company has a market capitalization of $68.70 million, a price-to-earnings ratio of -3.26 and a beta of 1.20. The firm has a 50-day moving average price of $5.35 and a 200-day moving average price of $5.20. Culp, Inc. has a twelve month low of $4.25 and a twelve month high of $6.85.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Culp in a report on Monday, December 16th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC raised its holdings in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent Form 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 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 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.