Culp (NYSE:CULP) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Culp, Inc. (NYSE:CULP)’s stock price crossed 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 changing hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Culp in a research report on Wednesday, November 6th. They set a “hold” rating for the company.

Culp Stock Performance

The firm’s 50 day simple moving average is $5.73 and its 200-day simple moving average is $5.05. The company has a market capitalization of $61.45 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 (EPS) for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The firm had revenue of $56.54 million for the quarter.

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English bought 105,242 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought 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 directly owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Robert George Iv Culp bought 16,128 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $5.71 per share, with a total value of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at $396,964.91. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Aron R. English acquired 105,242 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were bought 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 directly owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 238,959 shares of company stock worth $1,440,336 over the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. increased its stake in Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by 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.