Culp (NYSE:CULP) Director Acquires $10,092.10 in Stock

Key Points

• Director Kimberly Bullock Gatling of Culp, Inc. purchased 2,347 shares of the company stock for a total of $10,092.10, resulting in a 6.51% increase in her ownership.
• Culp, Inc. recently reported an earnings per share (EPS) of ($0.02) for the last quarter, surpassing consensus estimates, but with revenues falling short at $50.69 million compared to an expected $57.50 million.
• Institutional investors hold 75.05% of Culp's stock, with significant increases in stakes from firms like Ameriprise Financial and Citadel Advisors.

Culp, Inc. (NYSE:CULP - Get Free Report) Director Kimberly Bullock Gatling acquired 2,347 shares of Culp stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $4.30 per share, for a total transaction of $10,092.10. Following the completion of the purchase, the director directly owned 38,393 shares of the company's stock, valued at $165,089.90. This represents a 6.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Culp Price Performance

NYSE:CULP traded up $0.11 during trading hours on Tuesday, hitting $4.35. The company's stock had a trading volume of 33,584 shares, compared to its average volume of 20,636. The stock has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $4.30. The company has a market capitalization of $54.84 million, a P/E ratio of -4.49 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.86 and a quick ratio of 0.81. Culp, Inc. has a twelve month low of $3.42 and a twelve month high of $6.85.

Culp (NYSE:CULP - Get Free Report) last issued its quarterly earnings data on Wednesday, September 10th. The textile maker reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.10. The business had revenue of $50.69 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned ($0.36) EPS.

Institutional Trading of Culp

A number of hedge funds and other institutional investors have recently modified their holdings of CULP. Wealthedge Investment Advisors LLC bought a new stake in Culp during the 4th quarter worth $137,000. Citadel Advisors LLC boosted its stake 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 valued at $161,000 after purchasing an additional 7,386 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after purchasing an additional 14,634 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of 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 buying an additional 42,216 shares during the period. Finally, 22NW LP raised its holdings in Culp by 14.4% in the 1st quarter. 22NW LP now owns 1,859,061 shares of the textile maker's stock valued at $9,295,000 after buying an additional 234,346 shares during the last quarter. Institutional investors own 75.05% of the company's stock.

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.

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