Culp (NYSE:CULP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Culp, Inc. (NYSE:CULP)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.27 and traded as high as $5.94. Culp shares last traded at $5.87, with a volume of 62,368 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Culp in a research note on Wednesday. They set a “hold” rating for the company.

Culp Stock Performance

The company has a market capitalization of $73.09 million, a price-to-earnings ratio of -3.46 and a beta of 1.20. The business has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $5.27.

Insider Buying and Selling

In other Culp news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $5.55 per share, with a total value of $27,750.00. Following the purchase, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert George Iv Culp acquired 8,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at $422,917.18. This trade represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 31,495 shares of company stock valued at $167,062 over the last three months. 7.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC lifted its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,825 shares of the textile maker’s stock after purchasing an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.