Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a report issued on Tuesday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP stock opened at $5.72 on Tuesday. The stock’s 50-day moving average is $5.33 and its two-hundred day moving average is $5.22. The firm has a market cap of $71.84 million, a price-to-earnings ratio of -3.40 and a beta of 1.20. Culp has a 1 year low of $4.25 and a 1 year high of $6.85.

Insider Buying and Selling at Culp

In other Culp news, CEO Robert George Iv Culp purchased 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, with a total value of $46,113.36. Following the acquisition, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 29,405 shares of company stock worth $154,877. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its stake in shares of 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 fund owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 as of its most recent SEC filing. 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.