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

Culp, Inc. (NYSE:CULP) was the recipient of a large growth in short interest during 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. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 19,600 shares, the days-to-cover ratio is presently 1.2 days.

Culp Price Performance

Shares of CULP stock opened at $5.07 on Tuesday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The firm has a market cap of $63.32 million, a PE ratio of -3.57 and a beta of 1.22. The stock has a 50 day moving average of $5.73 and a 200-day moving average of $5.06.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Culp in a research report on Thursday, November 14th. They set a “hold” rating on the stock.

Insider Buying and Selling at Culp

In other news, Director Sharon A. Decker purchased 5,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the transaction, the director now owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 12.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Aron R. English acquired 7,652 shares of the stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $5.39 per share, for a total transaction of $41,244.28. Following the purchase, the insider now directly owns 1,347,366 shares in the company, valued at approximately $7,262,302.74. The trade was a 0.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 238,959 shares of company stock worth $1,440,336 in the last ninety days. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its stake in Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent disclosure 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 period. 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.

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.