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

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

Culp Price Performance

Culp stock opened at $5.28 on Monday. The firm’s 50 day simple moving average is $5.47 and its 200-day simple moving average is $5.41. The company has a market cap of $66.25 million, a P/E ratio of -3.14 and a beta of 1.16. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

Culp (NYSE:CULP) last released its earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative return on equity of 22.50% and a negative net margin of 9.43%.

Insider Buying and Selling at Culp

In related news, CEO Robert George Iv Culp bought 8,508 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 in the company, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a 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 that occurred on Monday, December 16th. The shares were bought at an average price 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. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 31,495 shares of company stock worth $167,062 over the last ninety days. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its position in Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 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.