Culp (NYSE:CULP) CEO Robert George Iv Culp Buys 4,356 Shares

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp acquired 4,356 shares of the stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost of $3.18 per share, for a total transaction of $13,852.08. Following the purchase, the chief executive officer directly owned 120,197 shares of the company’s stock, valued at $382,226.46. The trade was a 3.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, March 16th, Robert George Iv Culp purchased 4,383 shares of Culp stock. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $13,806.45.

Culp Trading Up 0.5%

Culp stock traded up $0.02 during midday trading on Thursday, hitting $3.00. 5,399 shares of the stock were exchanged, compared to its average volume of 26,516. Culp, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $5.57. The stock has a market capitalization of $37.94 million, a price-to-earnings ratio of -3.48 and a beta of 1.03. The stock’s 50-day simple moving average is $3.43 and its 200 day simple moving average is $3.82. The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Culp

Several large investors have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC increased its holdings in Culp by 5.1% in the 3rd quarter. Wealthedge Investment Advisors LLC now owns 72,455 shares of the textile maker’s stock valued at $323,000 after purchasing an additional 3,513 shares during the last quarter. Geode Capital Management LLC lifted its stake in Culp by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after purchasing an additional 3,606 shares in the last quarter. Vanguard Group Inc. lifted its stake 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. Susquehanna International Group LLP boosted its position in shares of 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 buying an additional 5,762 shares during the period. Finally, Moors & Cabot Inc. boosted its position in shares of 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 buying an additional 7,620 shares during the period. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CULP has been the topic of a number of recent analyst reports. Zacks Research upgraded Culp from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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.