StockNews.com Begins Coverage on Culp (NYSE:CULP)

Analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Shares of CULP opened at $5.82 on Wednesday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The stock’s 50-day moving average is $5.34 and its two-hundred day moving average is $5.27. The stock has a market cap of $73.09 million, a PE ratio of -3.46 and a beta of 1.20.

Insider Transactions at Culp

In other Culp news, CEO Robert George Iv Culp bought 8,508 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, with a total value of $46,113.36. Following the transaction, the chief executive officer now directly owns 78,029 shares in the company, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were bought 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 disclosure for this purchase can be found here. Over the last three months, insiders have bought 31,495 shares of company stock valued at $167,062. Corporate 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 stake in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 0.83% of Culp worth $680,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.