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

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research note published on Thursday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

CULP opened at $5.70 on Thursday. The firm has a market cap of $71.59 million, a price-to-earnings ratio of -3.39 and a beta of 1.18. The firm’s 50-day simple moving average is $5.37 and its 200-day simple moving average is $5.34. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Insider Buying and Selling at Culp

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

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 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 approximately 0.83% of Culp worth $680,000 as of its most recent filing with the SEC. Institutional investors 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.