StockNews.com started coverage on shares of Culp (NYSE:CULP - Free Report) in a report released on Thursday. The brokerage issued a hold rating on the textile maker's stock.
Culp Price Performance
Shares of NYSE:CULP traded down $0.05 during trading on Thursday, hitting $5.63. 36,042 shares of the company were exchanged, compared to its average volume of 32,908. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The stock has a 50 day moving average of $5.37 and a 200 day moving average of $5.32. The company has a market cap of $70.71 million, a PE ratio of -3.35 and a beta of 1.18.
Insider Activity
In other Culp news, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at $83,250. The trade was a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of the business'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 acquisition, the chief executive officer now directly owns 78,029 shares of the company's stock, valued at $422,917.18. This represents a 12.24 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 31,495 shares of company stock worth $167,062. 7.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Culp
An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC boosted its position in Culp, Inc. (NYSE:CULP - Free Report) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,825 shares of the textile maker's stock after buying an additional 12,830 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Culp worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 75.05% of the stock is currently owned by institutional investors and hedge funds.
About Culp
(
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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.
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