Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 20,700 shares, a decrease of 8.0% from the August 15th total of 22,500 shares. Based on an average trading volume of 18,900 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the company’s stock are sold short.

Culp Stock Performance

CULP stock traded up $0.04 on Wednesday, hitting $6.03. 54,027 shares of the company’s stock were exchanged, compared to its average volume of 21,004. The firm has a 50 day moving average price of $5.09 and a two-hundred day moving average price of $4.72. Culp has a 12-month low of $4.25 and a 12-month high of $6.20. The stock has a market cap of $75.19 million, a P/E ratio of -5.34 and a beta of 1.18.

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.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Wednesday, September 11th. They issued a “hold” rating for the company.

Insiders Place Their Bets

In other Culp news, major shareholder Aron R. English purchased 39,248 shares of Culp stock in a transaction dated Monday, July 8th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $186,428.00. Following the acquisition, the insider now owns 1,286,344 shares in the company, valued at approximately $6,110,134. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Aron R. English purchased 39,248 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $186,428.00. Following the acquisition, the insider now owns 1,286,344 shares of the company’s stock, valued at approximately $6,110,134. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aron R. English acquired 22,125 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average price of $5.00 per share, with a total value of $110,625.00. Following the completion of the purchase, the insider now directly owns 1,308,469 shares in the company, valued at $6,542,345. The disclosure for this purchase can be found here. Insiders have acquired a total of 128,405 shares of company stock worth $653,916 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

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) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp comprises approximately 5.7% of Gate City Capital Management LLC’s holdings, making the stock its 8th biggest holding. Gate City Capital Management LLC owned about 8.32% of Culp as of its most recent SEC filing. 75.05% of the stock is owned by institutional investors.

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.