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

Equities research analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Culp stock opened at $5.87 on Wednesday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The company has a fifty day moving average price of $5.33 and a two-hundred day moving average price of $5.27. The company has a market cap of $73.72 million, a PE ratio of -3.49 and a beta of 1.20.

Insider Activity

In related news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the business’s 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 acquisition, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp acquired 8,508 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the purchase, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was 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 acquired 29,405 shares of company stock valued at $154,877. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC raised its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter. 75.05% of the stock is currently 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.