Short Interest in Culp, Inc. (NYSE:CULP) Decreases By 16.7%

Culp, Inc. (NYSE:CULP) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 22,500 shares, a decline of 16.7% from the September 15th total of 27,000 shares. Based on an average daily volume of 22,500 shares, the short-interest ratio is presently 1.0 days. Approximately 0.2% of the shares of the stock are short sold.

Insider Buying and Selling

In other Culp news, Director Sharon A. Decker purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the purchase, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Aron R. English bought 105,242 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the purchase, the insider now directly owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sharon A. Decker purchased 5,000 shares of the stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $5.99 per share, with a total value of $29,950.00. Following the acquisition, the director now owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 261,483 shares of company stock valued at $1,558,117. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its stake in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analysts Set New Price Targets

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

Culp Trading Down 0.7 %

NYSE:CULP traded down $0.04 during midday trading on Monday, reaching $5.90. The company had a trading volume of 5,793 shares, compared to its average volume of 21,363. Culp has a 12-month low of $4.25 and a 12-month high of $6.85. The stock’s fifty day simple moving average is $5.42 and its 200-day simple moving average is $4.90. The firm has a market capitalization of $73.57 million, a price-to-earnings ratio of -5.35 and a beta of 1.19.

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

About Culp

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.