Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Buys 9,006 Shares

Culp, Inc. (NYSE:CULP - Get Free Report) major shareholder Aron R. English acquired 9,006 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $5.08 per share, with a total value of $45,750.48. Following the completion of the acquisition, the insider now owns 1,730,103 shares in the company, valued at $8,788,923.24. This trade represents a 0.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Culp Trading Up 0.5 %

Shares of CULP stock traded up $0.03 during trading hours on Friday, reaching $5.36. The stock had a trading volume of 23,396 shares, compared to its average volume of 21,105. The stock's fifty day simple moving average is $5.29 and its 200 day simple moving average is $5.47. The firm has a market capitalization of $67.25 million, a PE ratio of -3.19 and a beta of 1.06. Culp, Inc. has a 12 month low of $4.20 and a 12 month high of $6.85.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Culp in a research note on Friday, March 14th. They issued a "hold" rating for the company.

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Institutional Investors Weigh In On Culp

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC purchased a new position in Culp during the fourth quarter worth about $137,000. Citadel Advisors LLC boosted its position in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock valued at $161,000 after acquiring an additional 7,386 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Culp by 49.5% during the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker's stock valued at $212,000 after acquiring an additional 11,929 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after purchasing an additional 14,634 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker's stock worth $680,000 after purchasing an additional 12,830 shares during the last quarter. 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.