Aron R. English Purchases 39,248 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) major shareholder Aron R. English acquired 39,248 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average price of $4.75 per share, with a total value of $186,428.00. Following the transaction, the insider now owns 1,286,344 shares in the company, valued at approximately $6,110,134. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Culp Trading Up 1.6 %

Shares of NYSE:CULP opened at $5.12 on Friday. The stock’s 50-day moving average price is $4.47 and its two-hundred day moving average price is $4.77. Culp, Inc. has a 12-month low of $4.25 and a 12-month high of $5.99. The firm has a market cap of $63.85 million, a price-to-earnings ratio of -4.61 and a beta of 1.22.

Culp (NYSE:CULP) last issued its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative return on equity of 16.06% and a negative net margin of 6.13%. The firm had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. During the same period last year, the company earned ($0.38) EPS. As a group, research analysts forecast that Culp, Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Culp

A number of hedge funds have recently added to or reduced their stakes in the business. Gate City Capital Management LLC acquired a new stake in Culp in the 4th quarter worth about $6,010,000. Vanguard Group Inc. lifted its stake in shares of Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after purchasing an additional 19,640 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Culp in the 4th quarter valued at about $256,000. 75.05% of the stock is owned by institutional investors and hedge funds.

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.