Culp (NYSE:CULP) Research Coverage Started at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Trading Up 0.5 %

Shares of Culp stock opened at $5.96 on Friday. The firm’s 50-day moving average price is $5.33 and its 200 day moving average price is $4.85. The firm has a market capitalization of $74.32 million, a PE ratio of -5.37 and a beta of 1.19. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $56.54 million for the quarter.

Insider Buying and Selling

In related news, major shareholder Aron R. English purchased 39,248 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $186,428.00. Following the completion of the purchase, the insider now owns 1,286,344 shares in the company, valued at approximately $6,110,134. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Culp news, Director Sharon A. Decker bought 5,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the transaction, the director now owns 45,383 shares in the company, valued at approximately $271,844.17. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Aron R. English acquired 39,248 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $186,428.00. Following the completion of the acquisition, the insider now directly owns 1,286,344 shares of the company’s stock, valued at $6,110,134. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 341,131 shares of company stock worth $1,947,474. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Culp stock. Gate City Capital Management LLC bought a new position in shares of Culp, Inc. (NYSE:CULP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp comprises approximately 5.7% of Gate City Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Gate City Capital Management LLC owned approximately 8.32% of Culp 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.