Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note released on Monday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Trading Down 2.3 %

CULP opened at $5.28 on Monday. The company has a fifty day simple moving average of $5.47 and a 200 day simple moving average of $5.41. The firm has a market cap of $66.25 million, a price-to-earnings ratio of -3.14 and a beta of 1.16. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Activity

In other news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 15,000 shares in the company, valued at $83,250. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert George Iv Culp acquired 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, for a total transaction 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 disclosure for this purchase can be found here. In the last three months, insiders acquired 31,495 shares of company stock valued at $167,062. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its holdings in Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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.