Culp, Inc. (NYSE:CULP – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.78 and traded as high as $6.04. Culp shares last traded at $5.98, with a volume of 17,475 shares traded.
Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of Culp in a report on Friday. They issued a “hold” rating for the company.
Check Out Our Latest Research Report on Culp
Culp Trading Down 0.2 %
Culp (NYSE:CULP – Get Free Report) last released its earnings results on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The firm had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. During the same quarter in the previous year, the company posted ($0.38) earnings per share.
Insider Buying and Selling
In related news, major shareholder Aron R. English purchased 39,248 shares of Culp stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average cost of $4.75 per share, for a total transaction of $186,428.00. Following the completion of the transaction, the insider now owns 1,286,344 shares in the company, valued at $6,110,134. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Culp news, major shareholder Aron R. English purchased 39,248 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $186,428.00. Following the purchase, the insider now directly owns 1,286,344 shares in the company, valued at $6,110,134. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Aron R. English purchased 13,275 shares of the stock in a transaction on Friday, July 12th. The shares were acquired at an average price of $5.07 per share, for a total transaction of $67,304.25. Following the transaction, the insider now directly owns 1,321,744 shares of the company’s stock, valued at approximately $6,701,242.08. The disclosure for this purchase can be found here. Insiders acquired a total of 341,131 shares of company stock valued at $1,947,474 over the last 90 days. Insiders own 6.60% of the company’s stock.
Hedge Funds Weigh In On Culp
A hedge fund recently bought a new stake in Culp stock. Gate City Capital Management LLC purchased a new position in Culp, Inc. (NYSE:CULP – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp comprises approximately 5.7% of Gate City Capital Management LLC’s portfolio, making the stock its 8th largest position. Gate City Capital Management LLC owned 8.32% of Culp as of its most recent filing with the Securities and Exchange Commission (SEC). 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.
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