Culp (NYSE:CULP) Shares Cross Above 200-Day Moving Average - Here's What Happened

Shares of Culp, Inc. (NYSE:CULP - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.19 and traded as high as $4.23. Culp shares last traded at $4.19, with a volume of 22,547 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Culp in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Culp Stock Performance

The company has a current ratio of 1.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $4.29 and its two-hundred day moving average is $4.19. The company has a market cap of $52.73 million, a PE ratio of -4.31 and a beta of 1.08.

Culp (NYSE:CULP - Get Free Report) last released its earnings results on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.10. The company had revenue of $50.69 million for the quarter, compared to analysts' expectations of $57.50 million. Culp had a negative net margin of 5.82% and a negative return on equity of 11.68%. During the same quarter in the previous year, the company earned ($0.36) EPS.

Insider Buying and Selling

In related news, CEO Robert George Iv Culp purchased 7,428 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were acquired at an average price of $4.42 per share, for a total transaction of $32,831.76. Following the purchase, the chief executive officer directly owned 111,458 shares in the company, valued at $492,644.36. This trade represents a 7.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 15,147 shares of company stock valued at $66,292. 7.40% of the stock is owned by insiders.

Institutional Trading of Culp

A number of large investors have recently made changes to their positions in CULP. 22NW LP grew its holdings in Culp by 14.4% during the 1st quarter. 22NW LP now owns 1,859,061 shares of the textile maker's stock valued at $9,295,000 after purchasing an additional 234,346 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Culp by 10.0% during the second quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker's stock valued at $2,731,000 after purchasing an additional 62,932 shares in the last quarter. Wealthedge Investment Advisors LLC boosted its position in shares of Culp by 27.6% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker's stock worth $271,000 after purchasing an additional 14,897 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Culp in the 3rd quarter worth $51,000. 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.

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