Insider Buying: Culp (NYSE:CULP) COO Acquires $15,400.00 in Stock

Culp, Inc. (NYSE:CULP) COO Mary Elizabeth Hunsberger bought 5,000 shares of Culp stock in a transaction dated 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 transaction, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at $61,600. This represents a 33.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Culp Stock Performance

Shares of Culp stock opened at $2.79 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $3.41 and a 200 day simple moving average of $3.79. Culp, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $5.57. The firm has a market cap of $35.33 million, a P/E ratio of -3.24 and a beta of 1.03.

Hedge Funds Weigh In On Culp

Several institutional investors and hedge funds have recently made changes to their positions in CULP. Wealthedge Investment Advisors LLC increased its position in shares of Culp by 27.6% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock valued at $271,000 after buying an additional 14,897 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings 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 acquiring an additional 62,932 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Culp in the third quarter valued at about $51,000. Arbor Investment Advisors LLC acquired a new position in Culp in the third quarter valued at about $187,000. Finally, Vanguard Group Inc. increased its holdings in shares of Culp by 1.0% in the third 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. Institutional investors and hedge funds own 75.05% of the company’s stock.

Wall Street Analyst Weigh In

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