Culp (NYSE:CULP) CEO Acquires $13,806.45 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp acquired 4,383 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average cost of $3.15 per share, for a total transaction of $13,806.45. Following the completion of the purchase, the chief executive officer directly owned 115,841 shares of the company’s stock, valued at $364,899.15. The trade was a 3.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Robert George Iv Culp also recently made the following trade(s):

• On Wednesday, March 18th, Robert George Iv Culp acquired 2,941 shares of Culp stock. The shares were purchased at an average price of $3.13 per share, with a total value of $9,205.33.
• On Tuesday, March 17th, Robert George Iv Culp bought 4,356 shares of Culp stock. The shares were acquired at an average price of $3.18 per share, with a total value of $13,852.08.

Culp Trading Down 6.1%

Shares of CULP stock opened at $2.79 on Friday. The stock’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $3.80. The company has a market cap of $35.33 million, a PE ratio of -3.24 and a beta of 1.03. Culp, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $5.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Culp in a research note on Wednesday, January 21st. Zacks Research raised shares of Culp from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new position in shares of Culp in the 3rd quarter valued at $51,000. Susquehanna International Group LLP grew its position in Culp by 16.5% during the 3rd quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after acquiring an additional 5,762 shares during the last quarter. Arbor Investment Advisors LLC bought a new stake in Culp during the 3rd quarter worth $187,000. HighTower Advisors LLC increased its holdings in Culp by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after purchasing an additional 9,197 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC increased its holdings in Culp by 27.6% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock worth $271,000 after purchasing an additional 14,897 shares in the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

About Culp

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.