Culp (NYSE:CULP) Insider Acquires $23,368.20 in Stock

Culp, Inc. (NYSE:CULP) insider Thomas Bruno purchased 5,372 shares of Culp stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average cost of $4.35 per share, for a total transaction of $23,368.20. Following the completion of the purchase, the insider owned 80,000 shares of the company’s stock, valued at $348,000. This trade represents a 7.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Culp Price Performance

Shares of CULP stock opened at $4.35 on Wednesday. The stock has a market cap of $54.86 million, a price-to-earnings ratio of -4.49 and a beta of 1.04. The business’s fifty day moving average is $4.33 and its 200 day moving average is $4.30. Culp, Inc. has a twelve month low of $3.42 and a twelve month high of $6.85. The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 0.12.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.10. The company had revenue of $50.69 million for the quarter, compared to analysts’ expectations of $57.50 million. Culp had a negative return on equity of 11.68% and a negative net margin of 5.82%.During the same period in the prior year, the firm earned ($0.36) earnings per share.

Institutional Investors Weigh In On Culp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CULP. Wealthedge Investment Advisors LLC purchased a new stake in shares of Culp in the fourth quarter worth $137,000. Citadel Advisors LLC grew its stake in shares of Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after acquiring an additional 7,386 shares during the last quarter. Northern Trust Corp grew its stake 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 worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Culp by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock worth $2,731,000 after acquiring an additional 62,932 shares during the last quarter. Finally, 22NW LP grew its stake in shares of Culp by 14.4% in the first quarter. 22NW LP now owns 1,859,061 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 234,346 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.