Acadian Asset Management LLC Has $1.03 Million Holdings in Freightcar America, Inc. $RAIL

Key Points

• Acadian Asset Management LLC reduced its stake in Freightcar America, Inc. by 24.1%, selling 59,526 shares, and now owns 187,535 shares valued at approximately $1,034,000.
• Insider Celia Perez sold 7,982 shares of Freightcar America, representing a 13.69% decrease in her ownership position, and now holds 50,326 shares valued at around $432,300.
• Wall Street analysts recently upgraded Freightcar America from a "hold" to a "buy" rating, with a consensus price target of $9.00, as the company's stock rose 4.6% to $9.11.

Acadian Asset Management LLC trimmed its position in Freightcar America, Inc. (NASDAQ:RAIL - Free Report) by 24.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 187,535 shares of the transportation company's stock after selling 59,526 shares during the quarter. Acadian Asset Management LLC owned approximately 0.98% of Freightcar America worth $1,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RAIL. Mechanics Financial Corp bought a new stake in shares of Freightcar America in the 1st quarter valued at about $55,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Freightcar America in the 1st quarter valued at about $61,000. Walleye Capital LLC bought a new stake in shares of Freightcar America in the 1st quarter valued at about $74,000. Victory Capital Management Inc. bought a new stake in shares of Freightcar America in the 1st quarter valued at about $88,000. Finally, AlphaQuest LLC bought a new stake in shares of Freightcar America in the 1st quarter valued at about $90,000. 31.96% of the stock is owned by institutional investors.

Insider Activity

In other Freightcar America news, insider Celia Perez sold 7,982 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total transaction of $68,565.38. Following the transaction, the insider owned 50,326 shares in the company, valued at $432,300.34. This represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 28.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Freightcar America Stock Performance

RAIL traded down $0.01 on Friday, reaching $9.10. The company had a trading volume of 197,236 shares, compared to its average volume of 125,729. 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 $174.08 million, a P/E ratio of -13.00 and a beta of 1.95. The company's fifty day moving average is $9.41 and its 200 day moving average is $7.92.

Freightcar America Company 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.