Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Acquires 102,484 Shares of Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 102,484 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of $5.85 per share, for a total transaction of $599,531.40. Following the completion of the transaction, the insider now directly owns 1,456,827 shares in the company, valued at $8,522,437.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Trading Up 6.1 %

NYSE:CULP opened at $6.40 on Friday. The stock has a 50-day moving average price of $5.13 and a 200 day moving average price of $4.74. The stock has a market capitalization of $79.81 million, a P/E ratio of -5.77 and a beta of 1.18. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $6.40.

Culp (NYSE:CULP) last announced its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The business had revenue of $49.53 million during the quarter, compared to analyst estimates of $49.76 million. During the same period last year, the firm posted ($0.38) EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Culp in a research note on Thursday. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC acquired a new position in Culp, Inc. (NYSE:CULP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp comprises approximately 5.7% of Gate City Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Gate City Capital Management LLC owned 8.32% of Culp as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 75.05% of the company’s 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.