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

StockNews.com started coverage on shares of Culp (NYSE:CULP - Get Free Report) in a report released on Sunday. The firm set a "hold" rating on the textile maker's stock.

Culp Stock Performance

Shares of CULP stock traded down $0.15 during midday trading on Friday, hitting $5.06. 35,834 shares of the company were exchanged, compared to its average volume of 24,122. The firm's 50 day moving average price is $5.26 and its two-hundred day moving average price is $5.47. Culp has a 52 week low of $4.20 and a 52 week high of $6.85. The firm has a market capitalization of $63.52 million, a P/E ratio of -3.01 and a beta of 1.06.

Insiders Place Their Bets

In related 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 purchase, the chief executive officer now directly owns 92,030 shares in the company, valued at approximately $454,628.20. This represents a 17.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Aron R. English bought 20,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of $5.60 per share, with a total value of $112,000.00. Following the completion of the transaction, the insider now owns 1,859,061 shares in the company, valued at approximately $10,410,741.60. This trade represents a 1.09 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 67,403 shares of company stock worth $345,152. 7.30% of the stock is currently owned by company insiders.

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Hedge Funds Weigh In On Culp

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 12,830 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock valued at $161,000 after acquiring an additional 7,386 shares during the period. Northern Trust Corp grew its position in shares of Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock valued at $330,000 after purchasing an additional 14,634 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new position in shares of Culp in the fourth quarter valued at approximately $137,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock worth $3,181,000 after buying an additional 42,216 shares during the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

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.