Culp (NYSE:CULP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a report published on Monday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Trading Down 0.6 %

Shares of NYSE CULP opened at $5.36 on Monday. The stock has a market cap of $67.26 million, a P/E ratio of -3.19 and a beta of 1.16. The business’s fifty day simple moving average is $5.46 and its 200-day simple moving average is $5.41. Culp has a 12-month low of $4.25 and a 12-month high of $6.85.

Culp (NYSE:CULP) last posted its quarterly earnings results 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 related news, CEO Robert George Iv Culp purchased 8,508 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,495 shares of company stock worth $167,062 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. HighTower Advisors LLC boosted its stake in shares of Culp, Inc. (NYSE:CULP) by 49.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,046 shares of the textile maker’s stock after acquiring an additional 11,929 shares during the quarter. HighTower Advisors LLC owned about 0.29% of Culp worth $212,000 as of its most recent filing with the Securities and 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.