Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Price Performance

NYSE:CULP opened at $5.30 on Friday. Culp has a 1-year low of $4.25 and a 1-year high of $6.85. The company has a 50-day moving average of $5.43 and a 200 day moving average of $5.40. The firm has a market cap of $66.57 million, a PE ratio of -3.15 and a beta of 1.18.

Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) EPS 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 other Culp news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 31,495 shares of company stock valued at $167,062. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 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.