Culp, Inc. (NYSE:CULP) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in shares of Culp, Inc. (NYSE:CULP) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,617 shares of the textile maker’s stock after selling 2,000 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.13% of Culp worth $102,000 at the end of the most recent reporting period.

Separately, Vanguard Group Inc. boosted its position in Culp by 4.2% during the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after acquiring an additional 19,640 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Culp news, CEO Robert George Iv Culp bought 16,128 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $5.71 per share, with a total value of $92,090.88. Following the purchase, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. This represents a 30.21 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sharon A. Decker bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost 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 $271,844.17. This trade represents a 12.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 238,959 shares of company stock valued at $1,440,336. Company insiders own 7.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Culp in a research report on Friday. They set a “hold” rating on the stock.

Culp Price Performance

NYSE:CULP opened at $5.16 on Friday. The firm has a market capitalization of $64.45 million, a price-to-earnings ratio of -3.63 and a beta of 1.22. The company’s 50-day moving average is $5.68 and its two-hundred day moving average is $5.07. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $6.85.

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

Culp 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.