Culp (NYSE:CULP) Research Coverage Started at StockNews.com

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

Culp Price Performance

Shares of CULP stock opened at $5.48 on Friday. The stock’s fifty day moving average price is $5.40 and its 200 day moving average price is $5.38. Culp has a 1-year low of $4.25 and a 1-year high of $6.85. The company has a market cap of $68.77 million, a price-to-earnings ratio of -3.26 and a beta of 1.18.

Insiders Place Their Bets

In related news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the acquisition, the insider now directly owns 15,000 shares in the company, valued at $83,250. This represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased 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 approximately $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 quarter, insiders have purchased 31,495 shares of company stock valued at $167,062. 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 increased its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission. 75.05% of the stock is currently 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.