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

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

Culp Stock Up 1.2 %

NYSE CULP traded up $0.07 on Wednesday, reaching $5.87. 62,368 shares of the stock traded hands, compared to its average volume of 20,607. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The company has a market cap of $73.72 million, a price-to-earnings ratio of -3.49 and a beta of 1.20. The firm's fifty day simple moving average is $5.34 and its 200 day simple moving average is $5.27.

Insider Transactions at Culp

In other news, CEO Robert George Iv Culp bought 8,508 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now directly owns 78,029 shares in the company, valued at approximately $422,917.18. The trade was a 12.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of Culp stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $5.55 per share, with a total value of $27,750.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 29,405 shares of company stock valued at $154,877 in the last three months. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC boosted its position in shares of Culp, Inc. (NYSE:CULP - Free Report) by 14.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,825 shares of the textile maker's stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned 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 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.