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

Culp, Inc. (NYSE:CULP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Culp in a report on Tuesday. They set a “hold” rating on the stock.

Culp Trading Up 0.5 %

The business has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $5.42. The stock has a market cap of $67.01 million, a PE ratio of -3.18 and a beta of 1.16.

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 return on equity of 22.50% and a negative net margin of 9.43%.

Insiders Place Their Bets

In related news, CEO Robert George Iv Culp purchased 8,508 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of $5.42 per share, with a total value of $46,113.36. Following the transaction, the chief executive officer now directly owns 78,029 shares in the company, valued at $422,917.18. This trade represents a 12.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 31,495 shares of company stock worth $167,062. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A number of hedge funds have recently made changes to their positions in CULP. Citadel Advisors LLC boosted its position in shares of Culp by 36.8% in the 4th 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 in the last quarter. HighTower Advisors LLC boosted its position in shares of Culp by 49.5% in the 4th 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 boosted its position in shares of Culp by 35.2% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in Culp by 14.1% in the 3rd 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Culp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker’s stock valued at $3,156,000 after acquiring an additional 5,091 shares in the last quarter. 75.05% of the stock is owned by institutional investors.

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.