Culp, Inc. (NYSE:CULP) Major Shareholder Buys $599,531.40 in Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 102,484 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were acquired at an average cost of $5.85 per share, for a total transaction of $599,531.40. Following the completion of the transaction, the insider now directly owns 1,456,827 shares in the company, valued at $8,522,437.95. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Price Performance

CULP stock opened at $6.47 on Friday. Culp, Inc. has a 1 year low of $4.25 and a 1 year high of $6.77. The stock has a market cap of $80.68 million, a price-to-earnings ratio of -5.83 and a beta of 1.18. The company has a 50 day simple moving average of $5.16 and a 200 day simple moving average of $4.75.

Culp (NYSE:CULP) last announced its earnings results on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The firm had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. During the same period in the previous year, the business earned ($0.38) EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Culp in a research report on Thursday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Culp stock. Gate City Capital Management LLC bought a new stake in Culp, Inc. (NYSE:CULP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp makes up approximately 5.7% of Gate City Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Gate City Capital Management LLC owned approximately 8.32% of Culp at the end of the most recent reporting period. 75.05% of the stock is owned by institutional investors.

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.