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

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

Culp Stock Performance

NYSE:CULP opened at $5.36 on Friday. The stock’s fifty day moving average price is $5.28 and its two-hundred day moving average price is $5.47. Culp has a 52-week low of $4.20 and a 52-week high of $6.85. The company has a market cap of $67.25 million, a price-to-earnings ratio of -3.19 and a beta of 1.06.

Insiders Place Their Bets

In related news, CEO Robert George Iv Culp purchased 14,001 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $4.94 per share, with a total value of $69,164.94. Following the purchase, the chief executive officer now directly owns 92,030 shares in the company, valued at $454,628.20. This trade represents a 17.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Aron R. English purchased 13,849 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $4.65 per share, for a total transaction of $64,397.85. Following the purchase, the insider now owns 1,638,564 shares in the company, valued at $7,619,322.60. This trade represents a 0.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 69,493 shares of company stock valued at $357,337. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC acquired a new position in shares of Culp in the 4th quarter valued at $137,000. Citadel Advisors LLC increased its position in shares of Culp by 36.8% in the 4th 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 in the last quarter. HighTower Advisors LLC increased its position in shares of Culp by 49.5% in the 4th 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 in the last quarter. Northern Trust Corp increased its position in shares of Culp by 35.2% in the 4th 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Culp by 14.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.