Culp (NYSE:CULP) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Culp, Inc. (NYSE:CULP) shares crossed above their 200-day moving average of $4.32, reaching a high of $4.74 during trading, with the last recorded price at $4.50.
• The company reported an earnings per share (EPS) of ($0.02) for the recent quarter, surpassing expectations of ($0.12), though it fell short in revenue with $50.69 million against a consensus estimate of $57.50 million.
• Significant insider activity was noted as CEO Robert George Iv Culp bought 12,000 shares at $4.15 each, increasing his ownership by 13.04% and bringing his total shares held to approximately 104,030.

Culp, Inc. (NYSE:CULP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.32 and traded as high as $4.74. Culp shares last traded at $4.50, with a volume of 22,729 shares changing hands.

Culp Price Performance

The firm's fifty day moving average is $4.34 and its 200 day moving average is $4.31. The company has a market capitalization of $55.18 million, a P/E ratio of -4.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 1.86.

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

Insider Transactions at Culp

In related news, CEO Robert George Iv Culp acquired 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was purchased at an average cost of $4.15 per share, for a total transaction of $49,800.00. Following the purchase, the chief executive officer directly owned 104,030 shares of the company's stock, valued at $431,724.50. This trade represents a 13.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 7.40% of the company's stock.

Hedge Funds Weigh In On Culp

A number of large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC raised its holdings in Culp by 36.8% in the fourth quarter. Citadel Advisors LLC now owns 27,441 shares of the textile maker's stock worth $161,000 after purchasing an additional 7,386 shares in the last quarter. Northern Trust Corp grew its position in shares of Culp by 35.2% in the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after buying an additional 14,634 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its stake in Culp by 27.6% in the second quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker's stock valued at $271,000 after acquiring an additional 14,897 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Culp by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock valued at $3,181,000 after acquiring an additional 42,216 shares in the last quarter. Finally, 22NW LP boosted its stake in Culp by 14.4% in the first quarter. 22NW LP now owns 1,859,061 shares of the textile maker's stock valued at $9,295,000 after acquiring an additional 234,346 shares in the last quarter. 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.