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

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

Culp Stock Performance

NYSE CULP opened at $5.54 on Friday. Culp has a one year low of $4.25 and a one year high of $6.85. The stock has a 50-day moving average of $5.39 and a 200 day moving average of $5.36. The company has a market capitalization of $69.57 million, a price-to-earnings ratio of -3.30 and a beta of 1.18.

Insider Activity

In other news, CEO Robert George Iv Culp bought 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 completion of the acquisition, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was purchased at an average cost 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 disclosure for this purchase can be found here. Insiders purchased 31,495 shares of company stock valued at $167,062 over the last three months. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC raised its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 about 0.83% of Culp worth $680,000 at the end of the most recent quarter. 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.