Mary Elizabeth Hunsberger Purchases 5,000 Shares of Culp (NYSE:CULP) Stock

Culp, Inc. (NYSE:CULP) COO Mary Elizabeth Hunsberger acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $3.08 per share, with a total value of $15,400.00. Following the purchase, the chief operating officer directly owned 20,000 shares in the company, valued at approximately $61,600. This trade represents a 33.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Culp Price Performance

Shares of NYSE:CULP opened at $2.79 on Friday. The company’s fifty day moving average is $3.41 and its two-hundred day moving average is $3.80. 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 12-month low of $2.76 and a 12-month high of $5.57. The company has a market cap of $35.33 million, a P/E ratio of -3.24 and a beta of 1.03.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. Zacks Research upgraded Culp from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Culp has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Culp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealthedge Investment Advisors LLC lifted its stake in Culp by 27.6% in the second quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock valued at $271,000 after acquiring an additional 14,897 shares during the last quarter. Ameriprise Financial Inc. increased its position 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 buying an additional 62,932 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Culp in the third quarter worth about $51,000. Arbor Investment Advisors LLC bought a new stake in shares of Culp during the 3rd quarter worth about $187,000. Finally, Vanguard Group Inc. boosted its stake in shares of Culp by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock worth $2,261,000 after acquiring an additional 5,019 shares in the last quarter. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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.