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

Stock analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued on Saturday. The firm set a “hold” rating on the textile maker’s stock.

Culp Trading Up 1.4 %

Shares of Culp stock opened at $5.25 on Friday. The stock has a market capitalization of $65.57 million, a price-to-earnings ratio of -3.70 and a beta of 1.22. Culp has a twelve month low of $4.25 and a twelve month high of $6.85. The business’s 50 day simple moving average is $5.58 and its 200-day simple moving average is $5.11.

Culp (NYSE:CULP) last issued its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $56.54 million during the quarter.

Insider Buying and Selling at Culp

In other Culp news, major shareholder Aron R. English purchased 105,242 shares of Culp stock in a transaction on Thursday, September 19th. The stock was bought at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the transaction, the insider now owns 1,594,390 shares of the company’s stock, valued at $10,060,600.90. The trade was a 7.07 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sharon A. Decker purchased 5,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the acquisition, the director now directly owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This trade represents a 12.38 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 238,959 shares of company stock valued at $1,440,336 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its stake in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the quarter. Geode Capital Management LLC owned about 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 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.