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

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

Culp Stock Down 2.1 %

CULP opened at $5.32 on Friday. The stock has a market cap of $66.76 million, a price-to-earnings ratio of -3.16 and a beta of 1.18. Culp has a 12-month low of $4.25 and a 12-month high of $6.85. The business has a 50 day moving average of $5.43 and a 200-day moving average of $5.40.

Culp (NYSE:CULP) last released 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, CEO Robert George Iv Culp purchased 8,508 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the purchase, the insider now directly owns 15,000 shares in the company, valued at approximately $83,250. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 31,495 shares of company stock valued at $167,062 in the last three months. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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. 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.