Citadel Advisors LLC Purchases 7,386 Shares of Culp, Inc. (NYSE:CULP)

Citadel Advisors LLC increased its position in shares of Culp, Inc. (NYSE:CULP) by 36.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,441 shares of the textile maker’s stock after purchasing an additional 7,386 shares during the period. Citadel Advisors LLC owned about 0.22% of Culp worth $161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. 22NW LP boosted its holdings in Culp by 1.9% during the fourth quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock valued at $9,537,000 after purchasing an additional 30,325 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker’s stock worth $3,181,000 after buying an additional 42,216 shares during the period. Dimensional Fund Advisors LP boosted its stake in Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after buying an additional 5,091 shares in the last quarter. Northern Trust Corp boosted its stake in Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after buying an additional 14,634 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after acquiring an additional 11,929 shares during the period. 75.05% of the stock is currently owned by institutional investors.

Culp Price Performance

CULP stock opened at $4.10 on Monday. The company has a 50 day moving average price of $4.04 and a 200 day moving average price of $4.89. Culp, Inc. has a fifty-two week low of $3.42 and a fifty-two week high of $6.85. The stock has a market capitalization of $51.49 million, a PE ratio of -2.44 and a beta of 1.17.

Insider Activity

In other news, major shareholder Aron R. English purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average price of $5.60 per share, with a total value of $112,000.00. Following the acquisition, the insider now directly owns 1,859,061 shares of the company’s stock, valued at approximately $10,410,741.60. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 39,553 shares of company stock valued at $211,589 in the last 90 days. 7.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on Culp in a report on Saturday, May 17th. They set a “hold” rating for the company.

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.