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

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

Culp Price Performance

Shares of NYSE CULP opened at $5.51 on Tuesday. The business has a 50-day moving average of $5.35 and a 200-day moving average of $5.20. The stock has a market capitalization of $69.20 million, a price-to-earnings ratio of -3.28 and a beta of 1.20. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

Insiders Place Their Bets

In other news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the purchase, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert George Iv Culp purchased 8,508 shares of the stock in a transaction on Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 34,405 shares of company stock valued at $184,827 in the last 90 days. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC boosted its position in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker’s stock after purchasing 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 owned by institutional investors.

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.