Culp, Inc. (NYSE:CULP) CEO Buys $46,113.36 in Stock

Culp, Inc. (NYSE:CULP) CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of $5.42 per share, with a total value of $46,113.36. Following the purchase, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Culp Stock Performance

CULP stock opened at $5.50 on Friday. The company’s 50 day moving average price is $5.40 and its 200 day moving average price is $5.15. The firm has a market capitalization of $69.08 million, a price-to-earnings ratio of -3.27 and a beta of 1.20. Culp, Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Culp in a research note on Sunday, December 8th. They set a “hold” rating for the company.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its position in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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.