Culp (NYSE:CULP) Coverage Initiated at StockNews.com

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

Culp Price Performance

Shares of NYSE:CULP traded up $0.06 during trading on Wednesday, reaching $5.30. The stock had a trading volume of 20,258 shares, compared to its average volume of 16,976. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The business's 50-day moving average price is $5.47 and its 200 day moving average price is $5.45. The stock has a market capitalization of $66.50 million, a PE ratio of -3.15 and a beta of 1.16.

Culp (NYSE:CULP - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative return on equity of 22.50% and a negative net margin of 9.43%.

Insider Buying and Selling

In other Culp news, CEO Robert George Iv Culp bought 8,508 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was bought at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mary Elizabeth Hunsberger bought 5,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at approximately $83,250. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 31,495 shares of company stock worth $167,062 in the last quarter. Insiders own 7.30% of the company's stock.

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Institutional Trading of Culp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC grew its holdings in shares of Culp by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock valued at $161,000 after buying an additional 7,386 shares during the period. HighTower Advisors LLC grew its holdings in shares of Culp by 49.5% in the 4th quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker's stock valued at $212,000 after buying an additional 11,929 shares during the period. Northern Trust Corp grew its holdings in shares of Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock valued at $330,000 after buying an additional 14,634 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 12,830 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker's stock valued at $3,156,000 after buying an additional 5,091 shares during the period. 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.