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

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

Culp Stock Performance

Culp stock opened at $5.18 on Friday. The company has a 50-day simple moving average of $5.31 and a 200-day simple moving average of $5.46. The firm has a market capitalization of $64.99 million, a P/E ratio of -3.08 and a beta of 1.06. Culp has a one year low of $4.20 and a one year high of $6.85.

Insider Transactions at Culp

In related news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aron R. English bought 6,077 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $5.05 per share, with a total value of $30,688.85. Following the transaction, the insider now directly owns 1,711,304 shares in the company, valued at $8,642,085.20. This represents a 0.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 46,827 shares of company stock worth $234,598. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

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