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

Research analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Saturday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Shares of Culp stock opened at $5.32 on Friday. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The company has a market capitalization of $66.76 million, a P/E ratio of -3.16 and a beta of 1.18. The company has a fifty day moving average of $5.43 and a 200 day moving average of $5.40.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share (EPS) for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Buying and Selling at Culp

In other news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $83,250. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of Culp stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost 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 in the company, valued at $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. Insiders bought 31,495 shares of company stock worth $167,062 in the last quarter. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake 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 Form 13F filing with the Securities & Exchange Commission. The firm 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 0.83% of Culp worth $680,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 75.05% of the company’s stock.

About Culp

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.