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

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English purchased 105,242 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the transaction, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Culp Stock Performance

CULP traded up $0.37 during trading on Thursday, reaching $6.40. The company had a trading volume of 124,030 shares, compared to its average volume of 21,614. The firm’s 50-day simple moving average is $5.13 and its 200 day simple moving average is $4.74. The company has a market cap of $79.81 million, a price-to-earnings ratio of -5.77 and a beta of 1.18. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $6.40.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Culp in a report on Thursday. They issued a “hold” rating on the stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its holdings in Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. Institutional investors 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.