Culp, Inc. (NYSE:CULP) Sees Large Increase in Short Interest

Culp, Inc. (NYSE:CULP - Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 23,300 shares, a growth of 9.9% from the October 15th total of 21,200 shares. Based on an average daily volume of 19,600 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.2% of the shares of the company are sold short.

Insider Buying and Selling at Culp

In other news, Director Sharon A. Decker acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the purchase, the director now owns 45,383 shares in the company, valued at approximately $271,844.17. This trade represents a 12.38 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp bought 16,128 shares of the firm's stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $5.71 per share, with a total value of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares of the company's stock, valued at approximately $396,964.91. The trade was a 30.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 238,959 shares of company stock worth $1,440,336 in the last quarter. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC raised its position in Culp, Inc. (NYSE:CULP - Free Report) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker's stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by institutional investors.

Culp Trading Up 0.8 %

Shares of NYSE CULP traded up $0.04 during midday trading on Friday, hitting $5.07. The company's stock had a trading volume of 7,193 shares, compared to its average volume of 14,425. The firm has a market capitalization of $63.32 million, a price-to-earnings ratio of -3.57 and a beta of 1.22. The stock has a fifty day moving average price of $5.73 and a 200 day moving average price of $5.05. Culp has a one year low of $4.25 and a one year high of $6.85.

Culp (NYSE:CULP - Get Free Report) last issued its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. The business had revenue of $56.54 million for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Culp in a report on Thursday. They issued a "hold" rating for the company.

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.