Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note published on Thursday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Down 0.9 %

Shares of CULP stock opened at $5.63 on Thursday. The firm has a market capitalization of $70.71 million, a P/E ratio of -3.35 and a beta of 1.18. The stock’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $5.32. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Insider Buying and Selling at Culp

In other news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert George Iv Culp acquired 8,508 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 31,495 shares of company stock worth $167,062. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to the company in its most recent filing 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. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.