Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a report released on Friday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Price Performance

Culp stock opened at $5.18 on Friday. The stock’s 50-day moving average is $5.31 and its 200-day moving average is $5.46. The company has a market cap of $64.99 million, a price-to-earnings ratio of -3.08 and a beta of 1.06. Culp has a 12 month low of $4.20 and a 12 month high of $6.85.

Insider Transactions at Culp

In other Culp news, CEO Robert George Iv Culp acquired 14,001 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $4.94 per share, for a total transaction of $69,164.94. Following the purchase, the chief executive officer now directly owns 92,030 shares in the company, valued at $454,628.20. This trade represents a 17.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aron R. English acquired 13,849 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $4.65 per share, with a total value of $64,397.85. Following the purchase, the insider now owns 1,638,564 shares in the company, valued at $7,619,322.60. This represents a 0.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 46,827 shares of company stock worth $234,598 in the last three months. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Culp

Hedge funds have recently bought and sold shares of the business. Wealthedge Investment Advisors LLC acquired a new stake in Culp during the 4th quarter valued at approximately $137,000. Citadel Advisors LLC grew its stake in Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after purchasing an additional 7,386 shares in the last quarter. HighTower Advisors LLC grew its stake in Culp by 49.5% during the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares in the last quarter. Northern Trust Corp lifted its holdings in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Culp by 14.1% during the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares during the last quarter. 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.