Insider Buying: Culp, Inc. (NYSE:CULP) Director Acquires 2,090 Shares of Stock

Culp, Inc. (NYSE:CULP - Get Free Report) Director Kimberly Bullock Gatling bought 2,090 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $5.83 per share, for a total transaction of $12,184.70. Following the acquisition, the director now directly owns 36,046 shares of the company's stock, valued at $210,148.18. The trade was a 6.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Culp Trading Down 0.9 %

Shares of NYSE:CULP traded down $0.05 during midday trading on Thursday, reaching $5.82. 14,991 shares of the company were exchanged, compared to its average volume of 20,606. The stock has a market cap of $73.09 million, a PE ratio of -3.46 and a beta of 1.20. The business's fifty day moving average is $5.34 and its two-hundred day moving average is $5.27. Culp, Inc. has a one year low of $4.25 and a one year high of $6.85.

Institutional Investors 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 disclosure with the Securities and Exchange Commission (SEC). 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 approximately 0.83% of Culp worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 75.05% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Culp in a research note on Wednesday. They issued a "hold" rating for the company.

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.