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

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

Culp Trading Down 0.9 %

CULP stock opened at $5.82 on Wednesday. The stock’s 50 day simple moving average is $5.34 and its 200 day simple moving average is $5.27. Culp has a 12-month low of $4.25 and a 12-month high of $6.85. The firm has a market cap of $73.09 million, a P/E ratio of -3.46 and a beta of 1.20.

Insiders Place Their Bets

In related news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the acquisition, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp acquired 8,508 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the purchase, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 31,495 shares of company stock valued at $167,062. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its position in Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is 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.