Culp, Inc. $CULP Position Reduced by Gate City Capital Management LLC

Gate City Capital Management LLC decreased its position in shares of Culp, Inc. (NYSE:CULP) by 25.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 737,301 shares of the textile maker’s stock after selling 247,976 shares during the quarter. Culp accounts for 1.1% of Gate City Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Gate City Capital Management LLC owned 0.06% of Culp worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CULP. Ameriprise Financial Inc. raised its holdings in Culp by 10.0% during the second quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock worth $2,731,000 after purchasing an additional 62,932 shares in the last quarter. Vanguard Group Inc. raised its holdings in Culp by 1.0% during the third quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock worth $2,261,000 after purchasing an additional 5,019 shares in the last quarter. Wealthedge Investment Advisors LLC raised its holdings in Culp by 5.1% during the third quarter. Wealthedge Investment Advisors LLC now owns 72,455 shares of the textile maker’s stock worth $323,000 after purchasing an additional 3,513 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Culp by 3.9% during the third quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after purchasing an additional 7,620 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in Culp by 16.5% during the third quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after purchasing an additional 5,762 shares in the last quarter. Institutional investors own 75.05% of the company’s stock.

Culp Price Performance

NYSE CULP opened at $3.19 on Wednesday. The stock has a market capitalization of $40.39 million, a P/E ratio of -3.71 and a beta of 1.19. Culp, Inc. has a 1 year low of $2.70 and a 1 year high of $4.80. The business’s fifty day moving average is $3.13 and its two-hundred day moving average is $3.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76.

Insider Activity

In related news, insider Thomas Bruno bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were acquired at an average cost of $2.77 per share, for a total transaction of $27,700.00. Following the acquisition, the insider directly owned 90,000 shares of the company’s stock, valued at $249,300. The trade was a 12.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.40% of the stock is owned by insiders.

Culp Company Profile

Culp, Inc, headquartered in High Point, North Carolina, is a leading producer of specialty fabrics for the home furnishings industry. Founded in 1972 by Bill Culp, the company has grown into a publicly traded enterprise that supplies upholstery and mattress fabrics to manufacturers and retailers across North America and abroad. Culp’s fabric offerings are designed to meet the aesthetic and performance requirements of residential furniture, contract seating, and hospitality applications.

The company operates through two primary segments.