Short Interest in Culp, Inc. (NYSE:CULP) Declines By 11.8%

Culp, Inc. (NYSE:CULP) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 18,000 shares, a decrease of 11.8% from the November 15th total of 20,400 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 21,900 shares, the short-interest ratio is currently 0.8 days.

Insider Buying and Selling at Culp

In other Culp news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction dated Thursday, September 19th. The stock was acquired at an average cost of $6.31 per share, with a total value of $664,077.02. Following the completion of the acquisition, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. This represents a 7.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp purchased 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average price of $5.42 per share, with a total value of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 128,837 shares of company stock worth $790,743 over the last three months. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC raised its holdings in Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 at the end of the most recent reporting period. Institutional investors own 75.05% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Culp in a research report on Monday. They set a “hold” rating on the stock.

Culp Stock Performance

NYSE:CULP traded up $0.07 during trading hours on Tuesday, hitting $5.41. The company’s stock had a trading volume of 18,990 shares, compared to its average volume of 20,377. The company has a market capitalization of $67.94 million, a PE ratio of -3.18 and a beta of 1.20. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The business’s 50-day moving average is $5.39 and its two-hundred day moving average is $5.17.

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.