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

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

Culp Stock Performance

CULP opened at $4.04 on Thursday. The firm has a market cap of $50.68 million, a P/E ratio of -2.40 and a beta of 1.00. Culp has a fifty-two week low of $3.42 and a fifty-two week high of $6.85. The firm has a 50-day moving average of $4.56 and a 200 day moving average of $5.11.

Insider Buying and Selling at Culp

In other Culp news, CEO Robert George Iv Culp acquired 14,001 shares of Culp stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the purchase, the chief executive officer now owns 92,030 shares of the company’s stock, valued at approximately $454,628.20. This represents a 17.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Aron R. English purchased 6,077 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $5.05 per share, with a total value of $30,688.85. Following the completion of the acquisition, the insider now directly owns 1,711,304 shares of the company’s stock, valued at approximately $8,642,085.20. This trade represents a 0.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 67,403 shares of company stock worth $345,152 over the last ninety days. 7.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Culp

A number of large investors have recently modified their holdings of the company. Wealthedge Investment Advisors LLC bought a new position in Culp in the 4th quarter valued at $137,000. Citadel Advisors LLC boosted its stake in Culp by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock valued at $161,000 after buying an additional 7,386 shares during the period. HighTower Advisors LLC grew its position in 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 buying an additional 11,929 shares in the last quarter. Northern Trust Corp increased its stake in Culp by 35.2% in 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 raised its holdings in shares of Culp by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares in the last quarter. 75.05% of the stock is currently owned by 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.