Culp (NYSE:CULP) CEO Robert George Iv Culp Buys 7,428 Shares

Key Points

• CEO Robert George Iv Culp purchased 7,428 shares of Culp, Inc. at $4.42 per share, increasing his ownership by 7.14% and bringing his total to 111,458 shares valued at approximately $492,644.36.
• Culp, Inc. reported an earnings per share of (-$0.02), beating estimates but falling short on revenue expectations, with $50.69 million reported against a $57.50 million forecast.
• Recent institutional trading reveals significant investments, with 75.05% of Culp's stock owned by hedge funds and other institutional investors, indicating strong interest in the company.

Culp, Inc. (NYSE:CULP - Get Free Report) CEO Robert George Iv Culp purchased 7,428 shares of the business's stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $4.42 per share, for a total transaction of $32,831.76. Following the acquisition, the chief executive officer owned 111,458 shares in the company, valued at approximately $492,644.36. The trade was a 7.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Robert George Iv Culp also recently made the following trade(s):

• On Tuesday, July 1st, Robert George Iv Culp acquired 12,000 shares of Culp stock. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $49,800.00.

Culp Stock Performance

CULP traded up $0.11 during mid-day trading on Tuesday, reaching $4.35. 33,584 shares of the company traded hands, compared to its average volume of 20,636. The company's fifty day moving average price is $4.33 and its 200-day moving average price is $4.30. The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $54.84 million, a P/E ratio of -4.49 and a beta of 1.04. Culp, Inc. has a 52-week low of $3.42 and a 52-week high of $6.85.

Culp (NYSE:CULP - Get Free Report) last posted its earnings results on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.10. The company had revenue of $50.69 million during the quarter, compared to analysts' expectations of $57.50 million. Culp had a negative net margin of 5.82% and a negative return on equity of 11.68%. During the same period last year, the company posted ($0.36) earnings per share.

Institutional Trading of Culp

Several large investors have recently made changes to their positions in CULP. Wealthedge Investment Advisors LLC acquired a new position in Culp during the fourth quarter worth $137,000. Citadel Advisors LLC lifted its position in shares of Culp by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock worth $161,000 after purchasing an additional 7,386 shares in the last quarter. Northern Trust Corp raised its holdings in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock valued at $330,000 after acquiring an additional 14,634 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock valued at $3,181,000 after purchasing an additional 42,216 shares during the last quarter. Finally, 22NW LP grew its position in shares of Culp by 14.4% during the first quarter. 22NW LP now owns 1,859,061 shares of the textile maker's stock worth $9,295,000 after acquiring an additional 234,346 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Culp Company Profile

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.

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