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

Stock analysts at StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Monday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Shares of CULP opened at $5.41 on Monday. The company has a 50-day moving average of $5.38 and a 200 day moving average of $5.18. The firm has a market capitalization of $67.94 million, a price-to-earnings ratio of -3.22 and a beta of 1.20. Culp has a 1-year low of $4.25 and a 1-year high of $6.85.

Insider Activity

In other Culp news, major shareholder Aron R. English bought 105,242 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the transaction, the insider now directly owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The trade was a 7.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sharon A. Decker acquired 5,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the acquisition, the director now owns 45,383 shares of the company’s stock, valued at $271,844.17. This trade represents a 12.38 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 128,837 shares of company stock worth $790,743. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and 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 0.83% of Culp worth $680,000 at the end of the most recent quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.