Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research report report published on Wednesday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Price Performance

Shares of Culp stock opened at $5.30 on Wednesday. The business has a 50-day moving average of $5.47 and a 200-day moving average of $5.45. The company has a market capitalization of $66.50 million, a PE ratio of -3.15 and a beta of 1.16. Culp has a 1-year low of $4.25 and a 1-year high of $6.85.

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

Insider Transactions at Culp

In related news, CEO Robert George Iv Culp purchased 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of Culp stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $83,250. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 31,495 shares of company stock valued at $167,062. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

Large investors have recently bought and sold shares of the business. Citadel Advisors LLC lifted its holdings in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker’s stock worth $161,000 after acquiring an additional 7,386 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Culp by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 36,046 shares of the textile maker’s stock worth $212,000 after acquiring an additional 11,929 shares during the last quarter. Northern Trust Corp lifted its holdings in Culp by 35.2% in the fourth quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock worth $330,000 after acquiring an additional 14,634 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Culp by 14.1% in 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Culp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock worth $3,156,000 after acquiring an additional 5,091 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

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.