StockNews.com Initiates Coverage on Culp (NYSE:CULP)

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

Culp Stock Performance

NYSE CULP traded down $0.16 during trading on Monday, reaching $5.34. The company's stock had a trading volume of 18,505 shares, compared to its average volume of 20,383. The business's fifty day moving average price is $5.40 and its 200-day moving average price is $5.16. The firm has a market cap of $67.07 million, a price-to-earnings ratio of -3.27 and a beta of 1.20. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Insider Activity

In related news, major shareholder Aron R. English bought 105,242 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the transaction, the insider now directly owns 1,594,390 shares of the company's stock, valued at $10,060,600.90. This represents a 7.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sharon A. Decker purchased 5,000 shares of Culp stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the transaction, the director now owns 45,383 shares in the company, valued at $271,844.17. This represents a 12.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 231,321 shares of company stock worth $1,390,274. Corporate insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its stake in Culp, Inc. (NYSE:CULP - Free Report) by 14.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,825 shares of the textile maker's stock after acquiring an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 75.05% of the company's stock.

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.