Aron R. English Acquires 22,125 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULPGet Free Report) major shareholder Aron R. English bought 22,125 shares of the stock in a transaction dated Wednesday, July 10th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $110,625.00. Following the acquisition, the insider now directly owns 1,308,469 shares of the company’s stock, valued at approximately $6,542,345. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Trading Up 6.5 %

CULP traded up $0.31 during trading hours on Wednesday, hitting $5.18. The company’s stock had a trading volume of 54,665 shares, compared to its average volume of 21,430. The business’s 50-day moving average price is $4.43 and its 200-day moving average price is $4.77. Culp, Inc. has a 12 month low of $4.25 and a 12 month high of $5.99. The stock has a market cap of $64.53 million, a price-to-earnings ratio of -4.58 and a beta of 1.22.

Culp (NYSE:CULPGet Free Report) last announced its quarterly 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 6.13% and a negative return on equity of 16.06%. The company had revenue of $49.53 million for the quarter, compared to analysts’ expectations of $49.76 million. During the same quarter in the previous year, the business posted ($0.38) earnings per share. On average, analysts forecast that Culp, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Culp

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Culp by 4.2% in the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after purchasing an additional 19,640 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in Culp in the fourth quarter worth $256,000. Finally, Gate City Capital Management LLC bought a new position in Culp during the fourth quarter valued at $6,010,000. Institutional investors own 75.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, initiated coverage on shares of Culp in a report on Tuesday. They issued a “hold” rating on the stock.

View Our Latest Analysis on Culp

Culp Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Culp (NYSE:CULP)

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