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

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Down 3.6 %

Shares of NYSE:CULP opened at $5.16 on Friday. The company’s fifty day simple moving average is $5.26 and its 200 day simple moving average is $5.47. Culp has a 12 month low of $4.20 and a 12 month high of $6.85. The firm has a market cap of $64.80 million, a price-to-earnings ratio of -3.07 and a beta of 1.06.

Insiders Place Their Bets

In other Culp news, CEO Robert George Iv Culp purchased 14,001 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $4.94 per share, with a total value of $69,164.94. Following the acquisition, the chief executive officer now directly owns 92,030 shares of the company’s stock, valued at $454,628.20. This trade represents a 17.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Aron R. English bought 13,849 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $4.65 per share, with a total value of $64,397.85. Following the purchase, the insider now owns 1,638,564 shares in the company, valued at $7,619,322.60. The trade was a 0.85 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 67,403 shares of company stock valued at $345,152 in the last three months. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Culp

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealthedge Investment Advisors LLC acquired a new stake in Culp in the 4th quarter worth about $137,000. Citadel Advisors LLC grew its position in 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 acquiring an additional 7,386 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Culp by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after purchasing an additional 11,929 shares during the last quarter. Northern Trust Corp grew its holdings in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Culp by 14.1% in the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after purchasing an additional 12,830 shares during the 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.