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

Research analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report released on Monday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Down 4.8 %

Shares of Culp stock opened at $5.50 on Monday. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The company has a market capitalization of $69.08 million, a P/E ratio of -3.27 and a beta of 1.20. The company has a 50 day moving average of $5.40 and a 200 day moving average of $5.16.

Insider Activity at Culp

In other news, major shareholder Aron R. English bought 105,242 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $6.31 per share, with a total value of $664,077.02. Following the transaction, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. This trade represents a 7.07 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert George Iv Culp bought 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the acquisition, the chief executive officer now directly 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. Insiders have acquired 231,321 shares of company stock valued at $1,390,274 over the last quarter. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its position in Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 as of its most recent SEC filing. 75.05% of the stock is 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.