Ancora Advisors LLC Trims Holdings in Freightcar America, Inc. $RAIL

Key Points

• Ancora Advisors LLC has reduced its position in Freightcar America, Inc. (NASDAQ:RAIL) by 26.5%, selling 80,072 shares during the first quarter and now owning 222,548 shares valued at approximately $1,231,000.
• Institutional investors like Russell Investments Group Ltd. and Millennium Management LLC have increased their holdings significantly, with Russell's holdings up by 435.5% in the first quarter.
• Freightcar America's stock has been downgraded from a "buy" to a "hold" rating, with a current consensus target price of $9.00 amidst fluctuating share prices.

Ancora Advisors LLC reduced its position in shares of Freightcar America, Inc. (NASDAQ:RAIL - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,548 shares of the transportation company's stock after selling 80,072 shares during the quarter. Ancora Advisors LLC owned 1.17% of Freightcar America worth $1,231,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in Freightcar America by 435.5% during the first quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company's stock worth $782,000 after purchasing an additional 114,945 shares in the last quarter. Millennium Management LLC lifted its position in shares of Freightcar America by 170.7% during the 4th quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock valued at $1,255,000 after buying an additional 88,356 shares in the last quarter. Man Group plc purchased a new position in shares of Freightcar America during the 4th quarter valued at approximately $480,000. OMERS ADMINISTRATION Corp lifted its position in shares of Freightcar America by 204.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,100 shares of the transportation company's stock valued at $399,000 after buying an additional 48,400 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Freightcar America during the 4th quarter valued at approximately $290,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

Freightcar America Trading Down 0.2%

RAIL stock traded down $0.02 during midday trading on Wednesday, reaching $8.37. The stock had a trading volume of 37,970 shares, compared to its average volume of 223,053. The company's fifty day simple moving average is $9.66 and its 200 day simple moving average is $7.86. The company has a market cap of $160.02 million, a price-to-earnings ratio of -11.95 and a beta of 1.95. Freightcar America, Inc. has a 52-week low of $4.31 and a 52-week high of $16.10.

Insider Buying and Selling at Freightcar America

In other news, insider Celia Perez sold 7,982 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total value of $68,565.38. Following the transaction, the insider directly owned 50,326 shares of the company's stock, valued at approximately $432,300.34. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 28.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Freightcar America from a "hold" rating to a "buy" rating in a report on Sunday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Freightcar America presently has a consensus rating of "Buy" and a consensus target price of $9.00.

About Freightcar America

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.