Culp (NYSE:CULP) Coverage Initiated at StockNews.com

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

Culp Stock Performance

CULP opened at $5.78 on Tuesday. The business’s 50-day simple moving average is $5.34 and its 200-day simple moving average is $5.21. The company has a market cap of $72.59 million, a P/E ratio of -3.44 and a beta of 1.20. Culp has a one year low of $4.25 and a one year high of $6.85.

Insider Activity at Culp

In other Culp news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of Culp stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of $5.42 per share, with a total value of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 29,405 shares of company stock valued at $154,877 in the last ninety days. 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 grew its holdings in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent 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 about 0.83% of Culp worth $680,000 at the end of the most recent quarter. 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.