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

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

Culp Stock Up 3.0 %

CULP traded up $0.16 during midday trading on Friday, reaching $5.45. 7,695 shares of the company's stock were exchanged, compared to its average volume of 21,062. The business has a 50-day simple moving average of $5.28 and a two-hundred day simple moving average of $5.48. The firm has a market capitalization of $68.45 million, a price-to-earnings ratio of -3.24 and a beta of 1.06. Culp has a one year low of $4.20 and a one year high of $6.85.

Insider Buying and Selling

In other Culp news, CEO Robert George Iv Culp bought 14,001 shares of Culp stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $4.94 per share, for a total transaction of $69,164.94. Following the completion of the acquisition, the chief executive officer now owns 92,030 shares in the company, valued at approximately $454,628.20. The trade was a 17.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Aron R. English purchased 13,849 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $4.65 per share, for a total transaction of $64,397.85. Following the transaction, the insider now owns 1,638,564 shares of the company's stock, valued at $7,619,322.60. This trade represents a 0.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 69,493 shares of company stock worth $357,337 in the last quarter. Insiders own 7.30% of the company's stock.

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Institutional Trading of Culp

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker's stock worth $680,000 after acquiring an additional 12,830 shares during the period. Citadel Advisors LLC boosted its position in shares of Culp by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock worth $161,000 after buying an additional 7,386 shares during the period. Northern Trust Corp grew its holdings in shares of Culp by 35.2% during the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after buying an additional 14,634 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in Culp in the 4th quarter valued at approximately $137,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock worth $3,181,000 after acquiring an additional 42,216 shares in the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

About Culp

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.