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

Culp, Inc. (NYSE:CULP) Director Kimberly Bullock Gatling acquired 2,090 shares of Culp stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $5.83 per share, for a total transaction of $12,184.70. Following the completion of the purchase, the director now directly owns 36,046 shares of the company’s stock, valued at approximately $210,148.18. The trade was a 6.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Culp Stock Performance

Culp stock opened at $5.68 on Friday. The stock’s 50 day simple moving average is $5.34 and its two-hundred day simple moving average is $5.28. The stock has a market cap of $71.34 million, a price-to-earnings ratio of -3.38 and a beta of 1.18. Culp, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to its most recent disclosure with the 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 SEC filing. Institutional investors and hedge funds own 75.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Culp in a research note on Wednesday. They issued a “hold” rating on the 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.