Culp, Inc. (NYSE:CULP) Short Interest Update

Culp, Inc. (NYSE:CULP) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 23,300 shares, a growth of 27.3% from the December 15th total of 18,300 shares. Based on an average trading volume of 18,700 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.2% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Culp in a research report on Friday. They set a “hold” rating for the company.

Insiders Place Their Bets

In other news, CEO Robert George Iv Culp purchased 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the acquisition, the chief executive officer now directly owns 78,029 shares in the company, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of Culp stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $5.55 per share, with a total value of $27,750.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 31,495 shares of company stock worth $167,062 over the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC raised its position in Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.05% of the company’s stock.

Culp Stock Performance

Culp stock traded down $0.12 during mid-day trading on Friday, reaching $5.48. The company’s stock had a trading volume of 43,803 shares, compared to its average volume of 23,580. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The business’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $5.38. The company has a market capitalization of $68.77 million, a price-to-earnings ratio of -3.26 and a beta of 1.18.

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.