Culp (NYSE:CULP) Insider Acquires $27,700.00 in Stock

Culp, Inc. (NYSE:CULP) insider Thomas Bruno bought 10,000 shares of the stock in a transaction dated Thursday, April 2nd. The stock was bought at an average cost of $2.77 per share, with a total value of $27,700.00. Following the purchase, the insider owned 90,000 shares in the company, valued at $249,300. The trade was a 12.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Culp Price Performance

Shares of Culp stock opened at $2.71 on Monday. The stock has a market capitalization of $34.32 million, a price-to-earnings ratio of -3.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76. The company’s 50 day moving average price is $3.21 and its 200-day moving average price is $3.67. Culp, Inc. has a 52-week low of $2.70 and a 52-week high of $4.99.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CULP shares. Zacks Research upgraded shares of Culp from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Culp currently has an average rating of “Reduce”.

Hedge Funds Weigh In On Culp

Hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in Culp during the 3rd quarter valued at about $51,000. Susquehanna International Group LLP grew its stake in shares of Culp by 16.5% in the third 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 period. Arbor Investment Advisors LLC bought a new stake in shares of Culp in the third quarter worth approximately $187,000. HighTower Advisors LLC raised its holdings in shares of Culp by 23.3% during 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. Finally, Wealthedge Investment Advisors LLC raised its holdings in shares of Culp by 5.1% during the third 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. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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.