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

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research report released on Wednesday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Up 1.2 %

Shares of Culp stock opened at $5.87 on Wednesday. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The company has a 50 day moving average of $5.34 and a 200 day moving average of $5.27. The company has a market capitalization of $73.72 million, a P/E ratio of -3.49 and a beta of 1.20.

Insider Activity at Culp

In related news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $5.55 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was bought at an average price of $5.42 per share, with a total value 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. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 29,405 shares of company stock valued at $154,877 over the last quarter. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.