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

Culp, Inc. (NYSE:CULP)’s share price 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 traded.

Analyst Upgrades and Downgrades

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

Culp Trading Down 1.4 %

The firm has a market cap of $67.26 million, a P/E ratio of -3.19 and a beta of 1.16. The business’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $5.42.

Culp (NYSE:CULP) last posted 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%.

Insiders Place Their Bets

In other Culp news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $5.55 per share, with a total value of $27,750.00. Following the purchase, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert George Iv Culp bought 8,508 shares of Culp stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 31,495 shares of company stock worth $167,062 in the last ninety days. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Culp

A number of large investors have recently bought and sold shares of CULP. Geode Capital Management LLC raised its stake in shares of Culp by 14.1% during the third quarter. Geode Capital Management LLC now owns 103,825 shares of the textile maker’s stock valued at $680,000 after acquiring an additional 12,830 shares during the last quarter. HighTower Advisors LLC grew its stake 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 purchasing an additional 11,929 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after purchasing an additional 5,091 shares during the period. Northern Trust Corp raised its position in Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 14,634 shares during the last quarter. Finally, 22NW LP lifted its holdings in Culp by 1.9% in the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker’s stock worth $9,537,000 after buying an additional 30,325 shares during the period. 75.05% of the stock is 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.