Culp (NYSE:CULP) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Shares of Culp, Inc. (NYSE:CULP - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.42 and traded as high as $5.47. Culp shares last traded at $5.36, with a volume of 2,997 shares traded.

Analyst Upgrades and Downgrades

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

Culp Trading Down 2.2 %

The company has a market cap of $65.00 million, a P/E ratio of -3.08 and a beta of 1.16. The stock's 50-day moving average price is $5.49 and its 200-day moving average price is $5.42.

Culp (NYSE:CULP - Get Free Report) last announced its quarterly earnings results on Wednesday, December 4th. The textile maker reported ($0.29) earnings per share for the quarter. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Insider Activity at Culp

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

Institutional Investors Weigh In On Culp

Several large investors have recently modified their holdings of the stock. Citadel Advisors LLC increased its stake in shares of Culp by 36.8% during the 4th 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 during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Culp by 8.4% during the 4th quarter. Ameriprise Financial Inc. now owns 541,905 shares of the textile maker's stock worth $3,181,000 after purchasing an additional 42,216 shares during the last quarter. 22NW LP increased its stake in shares of Culp by 1.9% during the 4th quarter. 22NW LP now owns 1,624,715 shares of the textile maker's stock worth $9,537,000 after purchasing an additional 30,325 shares during the last quarter. Northern Trust Corp increased its stake in shares of Culp by 35.2% during the 4th quarter. Northern Trust Corp now owns 56,182 shares of the textile maker's stock worth $330,000 after purchasing an additional 14,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Culp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 537,726 shares of the textile maker's stock worth $3,156,000 after purchasing an additional 5,091 shares during the last quarter. Hedge funds and other institutional investors own 75.05% of the company's stock.

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.