Thomas Bruno Acquires 5,372 Shares of Culp (NYSE:CULP) Stock

Key Points

• Thomas Bruno, an insider at Culp, Inc., acquired 5,372 shares at an average price of $4.35 per share, increasing his total ownership to 80,000 shares valued at approximately $348,000.
• Culp's stock recently traded at $4.35, with a 12-month low of $3.42 and a high of $6.85, while the company reported a quarterly loss of ($0.02) EPS.
• Institutional investors hold 75.05% of Culp's stock, indicating strong backing from large investors, with notable stakes increasing from firms like Northern Trust Corp and Ameriprise Financial Inc.

Culp, Inc. (NYSE:CULP - Get Free Report) insider Thomas Bruno bought 5,372 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was acquired at an average price of $4.35 per share, for a total transaction of $23,368.20. Following the acquisition, the insider directly owned 80,000 shares in the company, valued at $348,000. This trade represents a 7.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Culp Stock Performance

CULP stock traded up $0.11 on Tuesday, reaching $4.35. 33,584 shares of the company were exchanged, compared to its average volume of 20,636. Culp, Inc. has a 12 month low of $3.42 and a 12 month high of $6.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.86 and a quick ratio of 0.81. The stock's fifty day moving average price is $4.33 and its 200 day moving average price is $4.30. The firm has a market capitalization of $54.84 million, a PE ratio of -4.49 and a beta of 1.04.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake 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 buying an additional 14,634 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock valued at $161,000 after buying an additional 7,386 shares during the period. Wealthedge Investment Advisors LLC bought a new stake in shares of Culp during the 4th quarter valued at $137,000. Finally, 22NW LP grew its position in Culp by 14.4% in 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 in the last quarter. Institutional investors own 75.05% of the company's stock.

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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