Culp (NYSE:CULP) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Culp, Inc. (NYSE:CULP) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.05 and traded as high as $5.19. Culp shares last traded at $4.92, with a volume of 87,513 shares trading hands.

Wall Street Analyst Weigh In

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

Culp Stock Performance

The company’s 50 day moving average price is $5.73 and its 200 day moving average price is $5.05. The company has a market cap of $63.32 million, a price-to-earnings ratio of -3.46 and a beta of 1.22.

Culp (NYSE:CULP) last announced its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. The company had revenue of $56.54 million during the quarter. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%.

Insider Activity at Culp

In other news, major shareholder Aron R. English bought 105,242 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the acquisition, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. This represents a 7.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sharon A. Decker purchased 5,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $5.99 per share, with a total value of $29,950.00. Following the acquisition, the director now directly owns 45,383 shares in the company, valued at approximately $271,844.17. The trade was a 12.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 238,959 shares of company stock worth $1,440,336 in the last quarter. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. increased its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. 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.