Culp (NYSE:CULP) Insider Thomas Bruno Purchases 10,000 Shares of Stock

Culp, Inc. (NYSE:CULP) insider Thomas Bruno purchased 10,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was bought at an average price of $2.77 per share, for a total transaction of $27,700.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at approximately $249,300. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Culp Trading Up 3.7%

Shares of NYSE CULP opened at $2.81 on Tuesday. Culp, Inc. has a 1-year low of $2.70 and a 1-year high of $4.80. The business has a fifty day moving average price of $3.20 and a 200 day moving average price of $3.66. The stock has a market capitalization of $35.58 million, a P/E ratio of -3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79.

Institutional Trading of Culp

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Culp by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after buying an additional 3,606 shares during the last quarter. HighTower Advisors LLC raised its position in Culp by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after buying an additional 9,197 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Culp during the 3rd quarter worth approximately $6,642,000. Susquehanna International Group LLP raised its position in Culp by 16.5% during the 3rd quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after buying an additional 5,762 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in Culp by 3.9% during the 3rd 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 during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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