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

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a report issued on Thursday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Culp stock opened at $5.63 on Thursday. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The stock’s 50 day simple moving average is $5.36 and its two-hundred day simple moving average is $5.32. The stock has a market cap of $70.71 million, a price-to-earnings ratio of -3.35 and a beta of 1.18.

Insider Buying and Selling

In other Culp news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the stock in a transaction dated 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 acquisition, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares in the company, valued at approximately $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 bought a total of 31,495 shares of company stock valued at $167,062 over the last ninety days. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC raised its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 0.83% of Culp worth $680,000 as of its most recent SEC filing. Institutional investors own 75.05% of the company’s stock.

Culp Company Profile

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.