Culp (NYSE:CULP) Stock Price Crosses Above 200-Day Moving Average of $4.78

Culp, Inc. (NYSE:CULP)’s stock price passed 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 trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Culp in a research note on Friday. They issued a “hold” rating for the company.

Culp Stock Up 0.2 %

The stock has a market capitalization of $74.57 million, a price-to-earnings ratio of -5.39 and a beta of 1.18. The company’s 50-day moving average is $5.21 and its 200-day moving average is $4.78.

Culp (NYSE:CULP) last released its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. During the same quarter in the previous year, the company earned ($0.38) EPS.

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English bought 105,242 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $6.31 per share, with a total value of $664,077.02. Following the completion of the transaction, the insider now directly owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Aron R. English acquired 102,484 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $5.85 per share, with a total value of $599,531.40. Following the completion of the purchase, the insider now owns 1,456,827 shares of the company’s stock, valued at approximately $8,522,437.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Aron R. English bought 105,242 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The disclosure for this purchase can be found here. Insiders have acquired 336,131 shares of company stock worth $1,917,524 over the last quarter. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Culp

A hedge fund recently bought a new stake in Culp stock. Gate City Capital Management LLC bought a new position in shares of Culp, Inc. (NYSE:CULP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp makes up about 5.7% of Gate City Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Gate City Capital Management LLC owned 8.32% of Culp at the end of the most recent quarter. 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.