Culp (NYSE:CULP) Now Covered by 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 Price Performance

NYSE:CULP opened at $5.07 on Thursday. The firm’s 50-day moving average price is $5.73 and its 200-day moving average price is $5.05. The company has a market capitalization of $63.32 million, a PE ratio of -3.57 and a beta of 1.22. Culp has a 1-year low of $4.25 and a 1-year high of $6.85.

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

Insider Activity at Culp

In other news, major shareholder Aron R. English acquired 7,652 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $5.39 per share, with a total value of $41,244.28. Following the transaction, the insider now owns 1,347,366 shares of the company’s stock, valued at $7,262,302.74. This trade represents a 0.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sharon A. Decker bought 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was purchased at an average cost of $5.99 per share, with a total value of $29,950.00. Following the completion of the acquisition, the director now directly owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. The trade was a 12.38 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 238,959 shares of company stock valued at $1,440,336 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its holdings in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor 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 about 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.