Culp (NYSE:CULP) Share Price Passes 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 traded.

Analyst Ratings Changes

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

Culp Trading Down 0.2 %

The company has a fifty day moving average price of $5.24 and a two-hundred day moving average price of $4.79. The firm has a market capitalization of $74.45 million, a price-to-earnings ratio of -5.33 and a beta of 1.18.

Culp (NYSE:CULP) last announced its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share 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 analysts’ expectations 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 posted ($0.38) EPS.

Insider Buying and Selling

In other Culp news, CEO Robert George Iv Culp bought 16,128 shares of Culp stock in a transaction on Monday, September 9th. The shares were bought at an average price of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at $396,964.91. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Sharon A. Decker acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average cost of $5.20 per share, for a total transaction of $26,000.00. Following the acquisition, the director now owns 30,544 shares in the company, valued at approximately $158,828.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert George Iv Culp acquired 16,128 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $5.71 per share, with a total value of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 341,131 shares of company stock worth $1,947,474. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

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