Insider Buying: Culp, Inc. (NYSE:CULP) Director Buys 2,090 Shares of Stock

Culp, Inc. (NYSE:CULP) Director Kimberly Bullock Gatling bought 2,090 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $5.83 per share, for a total transaction of $12,184.70. Following the acquisition, the director now owns 36,046 shares in the company, valued at $210,148.18. The trade was a 6.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Culp Stock Performance

Shares of CULP stock traded down $0.02 during mid-day trading on Thursday, reaching $5.85. 3,361 shares of the company were exchanged, compared to its average volume of 20,606. The company has a market capitalization of $73.47 million, a P/E ratio of -3.48 and a beta of 1.20. Culp, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $6.85. The business’s 50 day simple moving average is $5.34 and its 200 day simple moving average is $5.27.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Culp in a research note on Wednesday. They set a “hold” rating on the stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its stake in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 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.