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

Research analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULP - Get Free Report) in a research note issued to investors on Friday. The brokerage set a "hold" rating on the textile maker's stock.

Culp Trading Down 2.1 %

Shares of NYSE CULP traded down $0.12 during mid-day trading on Friday, hitting $5.48. The company had a trading volume of 42,436 shares, compared to its average volume of 29,076. The company has a market capitalization of $68.77 million, a PE ratio of -3.26 and a beta of 1.18. Culp has a one year low of $4.25 and a one year high of $6.85. The firm has a 50-day simple moving average of $5.39 and a two-hundred day simple moving average of $5.36.

Insider Buying and Selling at Culp

In other Culp news, CEO Robert George Iv Culp purchased 8,508 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the purchase, the chief executive officer now owns 78,029 shares of the company's stock, valued at approximately $422,917.18. The trade was a 12.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company's stock, valued at $83,250. This trade represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 31,495 shares of company stock worth $167,062 over the last 90 days. Company 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 grew its stake in shares of Culp, Inc. (NYSE:CULP - Free Report) by 14.1% in the third quarter, according to the company in its most recent filing with the 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 as of its most recent SEC filing. 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.