Newegg commerce: Galkin family buys $5.8M in NEGG stock
In recent transactions reported to the Securities and Exchange Commission, Kelly Jonathan Lee, a former director of Culp Inc (NYSE:CULP), acquired 250 shares of the company’s common stock. The purchase, made on March 18, 2025, was executed at a price of $5.33 per share, totaling $1,332. The stock, which has seen an impressive 12% gain over the past week and currently trades at $5.60, appears undervalued according to InvestingPro analysis. With a market capitalization of $70 million, Culp operates with moderate debt levels, though its overall financial health score currently indicates some challenges.
Following this transaction, Lee holds 48,821 shares indirectly through a SEPP-IRA. Additionally, Lee maintains direct ownership of 27,136 shares and indirect ownership of 1,110 shares through a Roth IRA. These transactions reflect Lee’s continued investment in the company, despite no longer serving as a director. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering over 1,400 US stocks, including Culp Inc.
In other recent news, Culp Inc. reported financial results for the first quarter of 2025, which fell short of market expectations. The company announced an earnings per share (EPS) loss of $0.33, significantly missing the forecasted EPS of $0.04. Revenue also came in below expectations at $52.3 million compared to the anticipated $62 million, marking a 13.5% year-over-year decline in net sales. Despite these challenges, Culp is focusing on operational efficiencies and anticipates a return to profitability in fiscal 2026. The company is seeing growth in its hospitality contract business and market share gains in mattress fabrics and covers. Additionally, Culp is undergoing a restructuring plan aimed at improving operational efficiencies, which is expected to yield significant cost savings. Analyst feedback from firms like Water Tower Research indicates that Culp is gaining market share in its mattress and hospitality segments, despite ongoing industry challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.