Culp, Inc. (NYSE:CULP) Major Shareholder Aron R. English Buys 6,077 Shares

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English bought 6,077 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $5.05 per share, with a total value of $30,688.85. Following the acquisition, the insider now owns 1,711,304 shares in the company, valued at approximately $8,642,085.20. This represents a 0.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Culp Stock Up 1.8 %

CULP traded up $0.09 during trading on Wednesday, hitting $5.13. 28,391 shares of the stock were exchanged, compared to its average volume of 20,655. Culp, Inc. has a 1-year low of $4.19 and a 1-year high of $6.85. The stock has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $5.46. The firm has a market capitalization of $64.43 million, a P/E ratio of -3.05 and a beta of 1.06.

Hedge Funds Weigh In On Culp

A number of hedge funds have recently modified their holdings of the business. Wealthedge Investment Advisors LLC purchased a new stake in Culp in the 4th quarter valued at $137,000. Citadel Advisors LLC increased its stake in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 7,386 shares during the period. HighTower Advisors LLC increased its stake in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares during the period. Northern Trust Corp raised its holdings in shares of Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after buying an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares during the period. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Culp in a research note on Thursday, March 6th. They issued a “hold” rating for the company.

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.