StockNews.com Begins Coverage on Culp (NYSE:CULP)

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

Culp Price Performance

CULP stock opened at $5.70 on Thursday. The stock has a market capitalization of $71.59 million, a P/E ratio of -3.39 and a beta of 1.18. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The business has a 50-day moving average of $5.37 and a 200-day moving average of $5.34.

Insider Transactions at Culp

In related news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp bought 8,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,495 shares of company stock valued at $167,062 over the last 90 days. 7.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC boosted its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the quarter. Geode Capital Management LLC owned 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.