Insider Buying: Culp, Inc. (NYSE:CULP) CEO Buys 8,508 Shares of Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp acquired 8,508 shares of the firm’s 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 completion of the acquisition, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link.

Culp Stock Up 7.4 %

Shares of NYSE CULP opened at $5.78 on Friday. Culp, Inc. has a 12 month low of $4.25 and a 12 month high of $6.85. The business has a fifty day simple moving average of $5.41 and a 200-day simple moving average of $5.15.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC grew its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 as of its most recent SEC filing. Institutional investors and hedge funds own 75.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Culp in a report on Sunday, December 8th. They set a “hold” rating for the company.

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.