Key Points
- COO Mary Elizabeth Hunsberger purchased 5,000 shares of Culp at an average price of $3.08 on March 18, increasing her stake to 20,000 shares (a 33.3% boost) for a $15,400 transaction.
- Culp stock recently traded around $2.79, has a 52-week range of $2.76–$5.57 and a market cap of roughly $35.3 million, with 50-day and 200-day moving averages at $3.41 and $3.80 respectively.
- Analyst coverage is weak (consensus rating: Reduce with one Hold and one Sell) while institutional investors own about 75.05% of the shares.
Culp, Inc. (NYSE:CULP - Get Free Report) COO Mary Elizabeth Hunsberger purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $3.08 per share, for a total transaction of $15,400.00. Following the acquisition, the chief operating officer directly owned 20,000 shares in the company, valued at approximately $61,600. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Culp Stock Performance
Culp stock opened at $2.79 on Friday. Culp, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $5.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76. The stock has a market cap of $35.33 million, a P/E ratio of -3.24 and a beta of 1.03. The firm's fifty day moving average price is $3.41 and its 200-day moving average price is $3.80.
Institutional Trading of Culp
Several institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new position in shares of Culp during the third quarter valued at about $6,642,000. Ameriprise Financial Inc. lifted its stake in shares of Culp by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 859,145 shares of the textile maker's stock valued at $3,832,000 after acquiring an additional 164,257 shares during the last quarter. Arbor Investment Advisors LLC bought a new stake in shares of Culp in the 3rd quarter valued at about $187,000. Wealthedge Investment Advisors LLC boosted its holdings in Culp by 27.6% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker's stock valued at $271,000 after acquiring an additional 14,897 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Culp during the 3rd quarter valued at about $51,000. 75.05% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CULP has been the topic of a number of research reports. Zacks Research upgraded Culp from a "strong sell" rating to a "hold" rating in a research report on Monday, February 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Culp in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce".
Read Our Latest Stock Report on Culp
About Culp
(
Get Free Report)
Culp, Inc, headquartered in High Point, North Carolina, is a leading producer of specialty fabrics for the home furnishings industry. Founded in 1972 by Bill Culp, the company has grown into a publicly traded enterprise that supplies upholstery and mattress fabrics to manufacturers and retailers across North America and abroad. Culp's fabric offerings are designed to meet the aesthetic and performance requirements of residential furniture, contract seating, and hospitality applications.
The company operates through two primary segments.
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