Insider Buying: Culp, Inc. (NYSE:CULP) Director Acquires 5,000 Shares of Stock

Culp, Inc. (NYSE:CULP) Director John Allen Baugh acquired 5,000 shares of the stock in a transaction on Monday, December 9th. The stock was acquired at an average cost of $4.95 per share, for a total transaction of $24,750.00. Following the acquisition, the director now directly owns 47,078 shares in the company, valued at $233,036.10. This represents a 11.88 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Culp Trading Up 3.2 %

Shares of NYSE:CULP traded up $0.16 on Tuesday, reaching $5.18. 36,687 shares of the company were exchanged, compared to its average volume of 20,222. The company has a 50-day moving average of $5.45 and a 200-day moving average of $5.13. The firm has a market cap of $64.70 million, a price-to-earnings ratio of -2.96 and a beta of 1.20. Culp, Inc. has a 1-year low of $4.25 and a 1-year high of $6.85.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its position in Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Culp in a research note on Sunday. They issued a “hold” rating on the 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.