Culp (NYSE:CULP) Now Covered by StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report released on Friday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Trading Down 2.1 %

NYSE:CULP opened at $5.48 on Friday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The company has a 50-day moving average price of $5.40 and a 200-day moving average price of $5.37. The stock has a market cap of $68.77 million, a price-to-earnings ratio of -3.26 and a beta of 1.18.

Insider Buying and Selling at Culp

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

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC boosted its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.