Insider Buying: Culp, Inc. (NYSE:CULP) Insider Purchases 5,000 Shares of Stock

Culp, Inc. (NYSE:CULP) insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Culp Trading Down 4.5 %

Shares of NYSE CULP traded down $0.25 during midday trading on Wednesday, hitting $5.25. The company’s stock had a trading volume of 26,402 shares, compared to its average volume of 20,331. The firm has a market capitalization of $65.93 million, a price-to-earnings ratio of -3.13 and a beta of 1.20. The stock has a fifty day moving average price of $5.38 and a 200 day moving average price of $5.18. Culp, Inc. has a one year low of $4.25 and a one year high of $6.85.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. increased its stake in Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Culp in a research note 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.