Aron R. English Acquires 22,125 Shares of Culp, Inc. (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULPGet Free Report) major shareholder Aron R. English acquired 22,125 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $110,625.00. Following the acquisition, the insider now directly owns 1,308,469 shares in the company, valued at approximately $6,542,345. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Culp Stock Up 6.5 %

Shares of CULP traded up $0.31 during midday trading on Wednesday, reaching $5.18. The company had a trading volume of 54,665 shares, compared to its average volume of 21,430. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $5.99. The stock has a market cap of $64.53 million, a PE ratio of -4.58 and a beta of 1.22. The firm has a 50 day simple moving average of $4.43 and a 200-day simple moving average of $4.77.

Culp (NYSE:CULPGet Free Report) last issued its 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 business had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. During the same period last year, the company earned ($0.38) EPS. As a group, sell-side analysts anticipate that Culp, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Culp in a report on Tuesday. They issued a “hold” rating on the stock.

Read Our Latest Research Report on CULP

Institutional Trading of Culp

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

About Culp

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Culp (NYSE:CULP)

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