Jonathan Lee Kelly Acquires 5,200 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) Director Jonathan Lee Kelly purchased 5,200 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were purchased at an average price of $5.36 per share, with a total value of $27,872.00. Following the completion of the acquisition, the director now directly owns 48,571 shares of the company’s stock, valued at $260,340.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Culp Stock Up 0.2 %

Shares of CULP traded up $0.01 during trading hours on Tuesday, reaching $5.38. 7,282 shares of the company traded hands, compared to its average volume of 21,196. The stock’s fifty day moving average is $4.57 and its 200 day moving average is $4.74. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $5.99.

Culp (NYSE:CULP) last announced its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The business had revenue of $49.53 million during the quarter, compared to analyst estimates of $49.76 million. Culp had a negative net margin of 6.13% and a negative return on equity of 16.42%. During the same quarter in the prior year, the business earned ($0.38) earnings per share. On average, equities research analysts expect that Culp, Inc. will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Gate City Capital Management LLC acquired a new position in Culp in the fourth quarter worth about $6,010,000. Vanguard Group Inc. raised its position in Culp by 4.2% in 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 in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Culp in the fourth quarter worth about $256,000. Institutional investors and hedge funds own 75.05% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Culp in a research report on Wednesday, July 17th. They set a “hold” rating for the company.

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.