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

Stock analysts at StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a report issued on Tuesday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Trading Up 0.7 %

Shares of CULP opened at $5.51 on Tuesday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The firm’s 50 day moving average is $5.35 and its 200-day moving average is $5.20. The stock has a market capitalization of $69.20 million, a PE ratio of -3.28 and a beta of 1.20.

Insiders Place Their Bets

In other news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of Culp stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert George Iv Culp bought 8,508 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was purchased at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now directly 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. Insiders have purchased a total of 34,405 shares of company stock worth $184,827 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC lifted its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to its most recent 13F 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 period. Geode Capital Management LLC owned about 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.

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.