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

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

Culp Stock Performance

Culp stock opened at $5.48 on Friday. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The firm’s fifty day moving average price is $5.40 and its 200-day moving average price is $5.37. The stock has a market cap of $68.77 million, a P/E ratio of -3.26 and a beta of 1.18.

Insider Transactions at Culp

In other Culp news, CEO Robert George Iv Culp purchased 8,508 shares of the stock in a transaction on Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the purchase, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mary Elizabeth Hunsberger purchased 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, with a total value of $27,750.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 31,495 shares of company stock worth $167,062. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew 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 SEC. The firm owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.