Key Points
- Thomas Bruno bought 10,000 shares of Culp on April 2 at an average price of $2.77 ($27,700 total), raising his stake to 90,000 shares (a 12.5% increase) per an SEC filing.
- Culp is a small-cap textile maker (market cap ≈ $35.6M) trading near its 1-year low with a negative P/E and an analyst consensus of "Reduce", while institutional investors own roughly 75% of the stock.
Culp, Inc. (NYSE:CULP - Get Free Report) insider Thomas Bruno bought 10,000 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of $2.77 per share, with a total value of $27,700.00. Following the completion of the acquisition, the insider owned 90,000 shares in the company, valued at approximately $249,300. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Culp Stock Performance
CULP opened at $2.81 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The firm has a fifty day moving average price of $3.20 and a 200 day moving average price of $3.66. Culp, Inc. has a 1 year low of $2.70 and a 1 year high of $4.80. The stock has a market cap of $35.58 million, a P/E ratio of -3.27 and a beta of 1.09.
Analysts Set New Price Targets
Several equities analysts recently issued reports on CULP shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Culp in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Culp from a "strong sell" rating to a "hold" rating in a research note on Monday, February 16th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Culp has an average rating of "Reduce".
Read Our Latest Stock Report on CULP
Institutional Trading of Culp
Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new position in Culp in the 3rd quarter valued at about $6,642,000. Ameriprise Financial Inc. boosted its holdings in Culp by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 859,145 shares of the textile maker's stock worth $3,832,000 after buying an additional 164,257 shares during the last quarter. Arbor Investment Advisors LLC purchased a new stake in Culp during the 3rd quarter worth approximately $187,000. Assenagon Asset Management S.A. purchased a new stake in Culp during the 3rd quarter worth approximately $51,000. Finally, HighTower Advisors LLC raised its holdings in shares of Culp by 23.3% during the fourth quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker's stock valued at $173,000 after acquiring an additional 9,197 shares during the last quarter. Hedge funds and other institutional investors own 75.05% of the company's stock.
Culp Company Profile
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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.
Further Reading
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