Gate City Capital Management LLC cut its holdings in shares of Culp, Inc. (NYSE:CULP – Free Report) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 737,301 shares of the textile maker’s stock after selling 247,976 shares during the period. Culp makes up about 1.1% of Gate City Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Gate City Capital Management LLC owned about 5.82% of Culp worth $2,625,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC boosted its position 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 worth $173,000 after buying an additional 9,197 shares during the period. Susquehanna International Group LLP boosted its position in shares of Culp by 16.5% during the third quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after buying an additional 5,762 shares during the period. Wealthedge Investment Advisors LLC boosted its position in shares of Culp by 5.1% during the third quarter. Wealthedge Investment Advisors LLC now owns 72,455 shares of the textile maker’s stock worth $323,000 after buying an additional 3,513 shares during the period. Geode Capital Management LLC boosted its position in shares of Culp by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after buying an additional 3,606 shares during the period. Finally, Moors & Cabot Inc. boosted its position in shares of Culp by 3.9% during the third quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after buying an additional 7,620 shares during the period. 75.05% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Thomas Bruno bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were purchased at an average price of $2.77 per share, with a total value of $27,700.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at approximately $249,300. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is currently owned by insiders.
Culp Stock Performance
About Culp
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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