Insider Buying: Culp, Inc. (NYSE:CULP) Director Acquires 5,000 Shares of Stock

Culp, Inc. (NYSE:CULP) Director Sharon A. Decker purchased 5,000 shares of Culp stock in a transaction dated Thursday, September 26th. The stock was bought at an average cost of $5.99 per share, with a total value of $29,950.00. Following the completion of the transaction, the director now owns 45,383 shares in the company, valued at approximately $271,844.17. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Culp Stock Performance

NYSE:CULP traded down $0.06 during mid-day trading on Friday, hitting $5.92. 4,588 shares of the company’s stock traded hands, compared to its average volume of 21,657. The company has a fifty day moving average of $5.23 and a 200 day moving average of $4.79. Culp, Inc. has a twelve month low of $4.25 and a twelve month high of $6.77. The company has a market capitalization of $73.82 million, a P/E ratio of -5.38 and a beta of 1.18.

Culp (NYSE:CULP) last announced its earnings results 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. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. During the same period in the prior year, the company posted ($0.38) EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Culp in a research report on Friday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC bought a new stake in shares of Culp, Inc. (NYSE:CULP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 holdings, making the stock its 8th largest holding. Gate City Capital Management LLC owned approximately 8.32% of Culp as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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.