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

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

Culp Trading Down 2.1 %

Shares of Culp stock opened at $5.32 on Friday. The company has a 50 day moving average of $5.43 and a 200-day moving average of $5.40. The company has a market cap of $66.76 million, a PE ratio of -3.16 and a beta of 1.18. Culp has a 1-year low of $4.25 and a 1-year high of $6.85.

Culp (NYSE:CULP) last released its earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share 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 at Culp

In related news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $83,250. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, 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 position. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,495 shares of company stock worth $167,062 over the last 90 days. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its position in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent disclosure 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 0.83% of Culp worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.