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

Stock analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a report released on Saturday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Trading Down 2.1 %

Shares of Culp stock opened at $5.32 on Friday. The company’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $5.39. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The stock has a market cap of $66.75 million, a PE ratio of -3.16 and a beta of 1.18.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) EPS 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

In related news, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased 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 owns 78,029 shares of the company’s stock, valued at $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 the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the purchase, the insider now directly owns 15,000 shares in the company, valued at $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 31,495 shares of company stock valued at $167,062. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC raised its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,825 shares of the textile maker’s stock after acquiring 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 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.