Culp (NYSE:CULP) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Culp, Inc. (NYSE:CULP) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.42 and traded as high as $5.47. Culp shares last traded at $5.36, with a volume of 2,997 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Culp in a report on Tuesday. They set a “hold” rating for the company.

Culp Price Performance

The firm has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $5.42. The firm has a market capitalization of $67.01 million, a P/E ratio of -3.18 and a beta of 1.16.

Culp (NYSE:CULP) last announced its quarterly earnings data 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 the business’s stock in a transaction dated Tuesday, December 10th. The stock was purchased at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the acquisition, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price 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 $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 31,495 shares of company stock valued at $167,062 over the last three months. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Culp

A number of institutional investors and hedge funds have recently made changes to their positions in CULP. Citadel Advisors LLC raised its position in shares of 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 buying an additional 7,386 shares in the last quarter. HighTower Advisors LLC raised its position in shares of 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 buying an additional 11,929 shares in the last quarter. Northern Trust Corp raised its position in shares of 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 buying an additional 14,634 shares in the last quarter. Geode Capital Management LLC raised its position 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 worth $680,000 after buying an additional 12,830 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 buying an additional 5,091 shares in the last quarter. Hedge funds and other institutional investors 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.