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

Investment analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP) in a report released on Wednesday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Down 0.4 %

NYSE:CULP opened at $5.18 on Wednesday. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The stock has a fifty day simple moving average of $5.48 and a 200-day simple moving average of $5.44. The company has a market capitalization of $65.06 million, a PE ratio of -3.08 and a beta of 1.16.

Culp (NYSE:CULP) last announced its earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share (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 news, CEO Robert George Iv Culp bought 8,508 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average price of $5.42 per share, with a total value of $46,113.36. Following the purchase, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the purchase, the insider now directly owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 31,495 shares of company stock worth $167,062. 7.30% of the stock is owned by insiders.

Institutional Trading of Culp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC lifted its stake in shares of Culp by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after purchasing an additional 7,386 shares during the period. HighTower Advisors LLC increased its stake in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock valued at $212,000 after purchasing an additional 11,929 shares during the last quarter. Northern Trust Corp lifted its position in Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after buying an additional 14,634 shares during the period. Geode Capital Management LLC boosted its stake in Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock worth $680,000 after buying an additional 12,830 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after buying an additional 5,091 shares during the period. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.