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

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

NYSE:CULP opened at $5.30 on Wednesday. The company has a market capitalization of $66.56 million, a PE ratio of -3.15 and a beta of 1.16. The company has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $5.44. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

Culp (NYSE:CULP) last released its earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Buying and Selling at Culp

In related news, CEO Robert George Iv Culp acquired 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of $5.42 per share, with a total value of $46,113.36. Following the transaction, the chief executive officer now directly owns 78,029 shares in the company, valued at $422,917.18. This represents a 12.24 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of Culp stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $5.55 per share, with a total value of $27,750.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 31,495 shares of company stock valued at $167,062. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of Culp

Several large investors have recently modified their holdings of CULP. Citadel Advisors LLC grew its position in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after buying an additional 7,386 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Culp by 49.5% in the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after purchasing an additional 11,929 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after purchasing an additional 14,634 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after purchasing an additional 12,830 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after purchasing an additional 5,091 shares in 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.