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

Equities researchers at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued on Thursday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP opened at $5.18 on Thursday. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The firm has a 50-day simple moving average of $5.44 and a 200-day simple moving average of $5.46. The company has a market capitalization of $65.06 million, a price-to-earnings ratio of -3.08 and a beta of 1.16.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) 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

In other Culp news, CEO Robert George Iv Culp acquired 8,508 shares of the stock in a transaction 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 acquisition, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $5.55 per share, with a total value of $27,750.00. Following the completion of the purchase, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 31,495 shares of company stock valued at $167,062 over the last three months. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Culp

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC increased its holdings in shares of Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 7,386 shares in the last quarter. HighTower Advisors LLC grew its position in Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after buying an additional 11,929 shares during the period. Northern Trust Corp increased its holdings in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after buying an additional 14,634 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after acquiring an additional 5,091 shares during the period. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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.