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

Equities researchers at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued on Sunday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP stock opened at $5.25 on Friday. The stock has a fifty day simple moving average of $5.45 and a two-hundred day simple moving average of $5.41. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The firm has a market capitalization of $65.88 million, a PE ratio of -3.12 and a beta of 1.16.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share (EPS) for the quarter. Culp had a negative return on equity of 22.50% and a negative net margin of 9.43%.

Insider Buying and Selling

In other news, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the purchase, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of Culp stock in a transaction on Monday, December 16th. The shares were bought at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the insider now directly owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 31,495 shares of company stock worth $167,062 in the last ninety days. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew its position in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.