Man Group plc Purchases Shares of 53,573 FreightCar America, Inc. (NASDAQ:RAIL)

Man Group plc bought a new stake in FreightCar America, Inc. (NASDAQ:RAIL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 53,573 shares of the transportation company's stock, valued at approximately $480,000. Man Group plc owned 0.28% of FreightCar America as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RAIL. OMERS ADMINISTRATION Corp bought a new position in shares of FreightCar America in the 4th quarter valued at $212,000. Millennium Management LLC increased its stake in shares of FreightCar America by 170.7% in the 4th quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock valued at $1,255,000 after purchasing an additional 88,356 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of FreightCar America in the 4th quarter valued at $152,000. Ancora Advisors LLC bought a new stake in shares of FreightCar America during the fourth quarter worth $2,711,000. Finally, 683 Capital Management LLC bought a new stake in shares of FreightCar America during the fourth quarter worth $625,000. 31.96% of the stock is owned by institutional investors.

FreightCar America Stock Up 6.4%

Shares of NASDAQ RAIL traded up $0.48 during midday trading on Thursday, reaching $7.99. 253,628 shares of the company were exchanged, compared to its average volume of 272,155. FreightCar America, Inc. has a one year low of $3.02 and a one year high of $16.10. The stock has a market cap of $152.13 million, a P/E ratio of -1.88 and a beta of 1.73. The stock's 50-day moving average price is $6.10 and its 200-day moving average price is $8.58.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The company had revenue of $137.70 million for the quarter, compared to analysts' expectations of $152.02 million. On average, equities research analysts anticipate that FreightCar America, Inc. will post 0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RAIL. Wall Street Zen cut shares of FreightCar America from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Northcoast Research began coverage on shares of FreightCar America in a research note on Thursday, May 1st. They set a "buy" rating and a $9.00 target price on the stock.

FreightCar America Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.