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

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

Culp Stock Down 2.1 %

Shares of NYSE CULP opened at $5.48 on Friday. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The stock has a market capitalization of $68.77 million, a price-to-earnings ratio of -3.26 and a beta of 1.18. The firm has a 50-day simple moving average of $5.40 and a 200-day simple moving average of $5.38.

Insider Buying and Selling

In related news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the insider now directly owns 15,000 shares in the company, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $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 ninety days, insiders bought 31,495 shares of company stock worth $167,062. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC raised its position in Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 as of its most recent SEC filing. Institutional investors own 75.05% of the company’s stock.

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.