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

Equities researchers at StockNews.com began coverage on shares of Culp (NYSE:CULP - Get Free Report) in a note issued to investors on Tuesday. The brokerage set a "hold" rating on the textile maker's stock.

Culp Trading Up 4.0 %

Culp stock traded up $0.15 during mid-day trading on Tuesday, hitting $3.81. 18,527 shares of the company's stock were exchanged, compared to its average volume of 21,953. Culp has a 1-year low of $3.62 and a 1-year high of $6.85. The stock has a 50 day moving average of $4.86 and a two-hundred day moving average of $5.26. The stock has a market cap of $47.79 million, a P/E ratio of -2.26 and a beta of 1.00.

Insider Buying and Selling

In other Culp news, major shareholder Aron R. English bought 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $5.60 per share, for a total transaction of $112,000.00. Following the purchase, the insider now directly owns 1,859,061 shares in the company, valued at $10,410,741.60. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert George Iv Culp purchased 14,001 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $4.94 per share, with a total value of $69,164.94. Following the completion of the acquisition, the chief executive officer now owns 92,030 shares of the company's stock, valued at approximately $454,628.20. The trade was a 17.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 67,403 shares of company stock worth $345,152. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wealthedge Investment Advisors LLC acquired a new position in Culp in the 4th quarter valued at approximately $137,000. Citadel Advisors LLC lifted its position 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 purchasing an additional 7,386 shares during the period. HighTower Advisors LLC boosted its stake 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 purchasing an additional 11,929 shares in the last quarter. 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 purchasing an additional 14,634 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Culp by 14.1% in the third 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 in the last quarter. Institutional investors and hedge funds 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.