Culp, Inc. (NYSE:CULP) CEO Acquires $69,164.94 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp purchased 14,001 shares of the business’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $4.94 per share, with a total value of $69,164.94. Following the acquisition, the chief executive officer now directly owns 92,030 shares in the company, valued at approximately $454,628.20. The trade was a 17.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Culp Stock Down 0.4 %

Shares of Culp stock traded down $0.02 on Wednesday, hitting $5.02. The stock had a trading volume of 8,749 shares, compared to its average volume of 20,573. The stock has a market cap of $63.05 million, a price-to-earnings ratio of -2.99 and a beta of 1.06. Culp, Inc. has a twelve month low of $4.19 and a twelve month high of $6.85. The business’s 50 day moving average is $5.35 and its two-hundred day moving average is $5.46.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Culp in a report on Thursday, March 6th. They set a “hold” rating for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealthedge Investment Advisors LLC bought a new stake in shares of Culp in the fourth quarter valued at about $137,000. Citadel Advisors LLC raised its stake in Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after purchasing an additional 7,386 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Culp by 49.5% in the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares during the period. Northern Trust Corp increased its stake in Culp by 35.2% during the 4th 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 period. Finally, Geode Capital Management LLC raised its holdings in Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares in the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

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.