Continental General Insurance Co. lessened its stake in Freightcar America, Inc. (NASDAQ:RAIL - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,443,198 shares of the transportation company's stock after selling 140,335 shares during the quarter. Freightcar America makes up 2.8% of Continental General Insurance Co.'s holdings, making the stock its 7th biggest position. Continental General Insurance Co. owned about 7.58% of Freightcar America worth $7,981,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Mechanics Financial Corp acquired a new stake in shares of Freightcar America in the 1st quarter valued at approximately $55,000. Walleye Capital LLC acquired a new stake in shares of Freightcar America in the 1st quarter valued at approximately $74,000. Victory Capital Management Inc. acquired a new stake in shares of Freightcar America in the 1st quarter valued at approximately $88,000. AlphaQuest LLC acquired a new stake in shares of Freightcar America in the 1st quarter valued at approximately $90,000. Finally, Algert Global LLC boosted its holdings in shares of Freightcar America by 49.4% in the 1st quarter. Algert Global LLC now owns 20,950 shares of the transportation company's stock valued at $116,000 after buying an additional 6,930 shares during the last quarter. Institutional investors and hedge funds own 31.96% of the company's stock.
Freightcar America Price Performance
Freightcar America stock traded down $0.28 during mid-day trading on Monday, hitting $8.54. 102,438 shares of the company's stock traded hands, compared to its average volume of 229,399. The firm has a 50 day simple moving average of $9.70 and a two-hundred day simple moving average of $7.93. Freightcar America, Inc. has a fifty-two week low of $4.31 and a fifty-two week high of $16.10. The stock has a market cap of $163.37 million, a price-to-earnings ratio of -12.20 and a beta of 1.95.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Freightcar America from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Freightcar America has a consensus rating of "Buy" and a consensus price target of $9.00.
View Our Latest Stock Analysis on Freightcar America
Insider Transactions at Freightcar America
In other Freightcar America news, insider Celia Perez sold 7,982 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $8.59, for a total transaction of $68,565.38. Following the completion of the sale, the insider owned 50,326 shares of the company's stock, valued at $432,300.34. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.70% of the stock is owned by corporate insiders.
About Freightcar America
(
Free Report)
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.
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