Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Trading Up 4.9 %

NYSE CULP opened at $5.78 on Tuesday. The business’s 50 day moving average is $5.34 and its two-hundred day moving average is $5.20. The stock has a market capitalization of $72.59 million, a price-to-earnings ratio of -3.44 and a beta of 1.20. Culp has a 12-month low of $4.25 and a 12-month high of $6.85.

Insider Buying and Selling at Culp

In related news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was bought 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 of the company’s stock, valued at approximately $83,250. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the transaction, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 34,405 shares of company stock valued at $184,827. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 approximately 0.83% of Culp worth $680,000 as of its most recent filing with the SEC. 75.05% of the stock is owned by institutional investors and hedge funds.

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.