Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp Buys 8,508 Shares of Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp acquired 8,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Culp Stock Performance

NYSE CULP opened at $5.78 on Friday. Culp, Inc. has a 52 week low of $4.25 and a 52 week high of $6.85. The company has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $5.15.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Culp in a research report on Sunday, December 8th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. increased its stake in Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. 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.