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

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

Culp Price Performance

CULP stock opened at $5.18 on Friday. The company has a fifty day moving average price of $5.31 and a two-hundred day moving average price of $5.46. Culp has a one year low of $4.20 and a one year high of $6.85. The stock has a market cap of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06.

Insider Buying and Selling

In other news, CEO Robert George Iv Culp acquired 14,001 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $4.94 per share, with a total value of $69,164.94. Following the completion of the transaction, the chief executive officer now directly owns 92,030 shares of the company’s stock, valued at $454,628.20. This trade represents a 17.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the business’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 $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 46,827 shares of company stock valued at $234,598 over the last quarter. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC acquired a new position in shares of Culp in the fourth quarter valued at approximately $137,000. Citadel Advisors LLC increased its stake in shares of Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares during the period. HighTower Advisors LLC increased its stake in shares of Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after buying an additional 11,929 shares during the period. Northern Trust Corp increased its stake in shares of Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after buying an additional 14,634 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after buying an additional 12,830 shares during the period. 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.