Insider Buying: Culp, Inc. (NYSE:CULP) Insider Buys 5,000 Shares of Stock

Culp, Inc. (NYSE:CULP - Get Free Report) insider Mary Elizabeth Hunsberger acquired 5,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were bought at an average price 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 approximately $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Culp Stock Down 4.4 %

NYSE:CULP traded down $0.24 during mid-day trading on Wednesday, hitting $5.26. 32,727 shares of the stock traded hands, compared to its average volume of 20,427. Culp, Inc. has a 52 week low of $4.25 and a 52 week high of $6.85. The stock has a market capitalization of $66.06 million, a price-to-earnings ratio of -3.13 and a beta of 1.20. The firm's 50 day moving average is $5.37 and its two-hundred day moving average is $5.18.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC increased its stake in Culp, Inc. (NYSE:CULP - Free Report) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,825 shares of the textile maker's stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Monday. They set a "hold" rating for the company.

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.