Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Acquires 105,242 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction dated Thursday, September 19th. The shares were bought at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the transaction, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Culp Stock Up 1.9 %

NYSE:CULP opened at $6.47 on Friday. The stock has a market capitalization of $80.68 million, a price-to-earnings ratio of -5.83 and a beta of 1.18. Culp, Inc. has a 52 week low of $4.25 and a 52 week high of $6.77. The firm has a 50 day moving average of $5.16 and a 200 day moving average of $4.75.

Culp (NYSE:CULP) last posted its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. During the same quarter in the prior year, the company posted ($0.38) earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Culp in a report on Thursday. They set a “hold” rating for the company.

Institutional Trading of Culp

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC acquired a new stake in shares of Culp, Inc. (NYSE:CULP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp comprises 5.7% of Gate City Capital Management LLC’s holdings, making the stock its 8th largest position. Gate City Capital Management LLC owned about 8.32% of Culp at the end of the most recent quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.