Insider Buying: Culp, Inc. (NYSE:CULP) Major Shareholder Acquires 4,564 Shares of Stock

Culp, Inc. (NYSE:CULP - Get Free Report) major shareholder Aron R. English bought 4,564 shares of the business's stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $5.23 per share, with a total value of $23,869.72. Following the purchase, the insider now owns 1,624,715 shares of the company's stock, valued at $8,497,259.45. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Culp Trading Up 2.8 %

Culp stock traded up $0.15 during midday trading on Friday, reaching $5.47. 26,914 shares of the stock traded hands, compared to its average volume of 20,474. The firm has a market cap of $68.70 million, a PE ratio of -3.26 and a beta of 1.20. The company has a 50-day simple moving average of $5.35 and a two-hundred day simple moving average of $5.18. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $6.85.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its stake in shares of Culp, Inc. (NYSE:CULP - Free Report) by 14.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,825 shares of the textile maker's stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 at the end of the most recent quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Culp in a research report on Monday. They issued a "hold" rating on the stock.

Culp Company Profile

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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