Culp (NYSE:CULP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a research note released on Saturday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Down 1.8 %

CULP opened at $5.84 on Friday. The firm has a market cap of $72.82 million, a P/E ratio of -5.26 and a beta of 1.19. The business’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $4.86. Culp has a 52 week low of $4.25 and a 52 week high of $6.85.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. The firm had revenue of $56.54 million for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%.

Insider Transactions at Culp

In other Culp news, major shareholder Aron R. English bought 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the purchase, the insider now owns 1,594,390 shares of the company’s stock, valued at $10,060,600.90. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Aron R. English acquired 9,703 shares of Culp stock in a transaction dated Tuesday, July 16th. The shares were acquired at an average cost of $5.19 per share, with a total value of $50,358.57. Following the purchase, the insider now directly owns 1,331,447 shares of the company’s stock, valued at approximately $6,910,209.93. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aron R. English bought 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $6.31 per share, with a total value of $664,077.02. Following the transaction, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 274,758 shares of company stock worth $1,625,421 over the last quarter. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC bought a new position in shares of Culp, Inc. (NYSE:CULP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp makes up approximately 5.7% of Gate City Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Gate City Capital Management LLC owned about 8.32% of Culp as of its most recent SEC filing. 75.05% of the stock is currently owned by institutional investors.

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.