Insider Buying: Culp (NYSE:CULP) COO Purchases 5,000 Shares of Stock

Culp, Inc. (NYSE:CULP) COO Mary Elizabeth Hunsberger purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average price of $3.08 per share, for a total transaction of $15,400.00. Following the completion of the purchase, the chief operating officer directly owned 20,000 shares in the company, valued at $61,600. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Culp Stock Performance

NYSE:CULP traded down $0.07 during mid-day trading on Friday, reaching $2.90. 15,545 shares of the stock were exchanged, compared to its average volume of 26,534. The company has a quick ratio of 0.79, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. Culp, Inc. has a 1 year low of $2.76 and a 1 year high of $5.57. The company has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $3.81. The stock has a market capitalization of $36.72 million, a P/E ratio of -3.37 and a beta of 1.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Culp by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after acquiring an additional 3,606 shares during the period. HighTower Advisors LLC grew its position in shares of Culp by 23.3% in the fourth quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after purchasing an additional 9,197 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Culp in the 3rd quarter valued at approximately $6,642,000. Susquehanna International Group LLP lifted its stake in Culp by 16.5% in the 3rd quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock valued at $181,000 after buying an additional 5,762 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position 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 buying an additional 7,620 shares in the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.