Acadian Asset Management LLC Sells 59,526 Shares of 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 stake in Freightcar America, Inc. (NASDAQ:RAIL - Free Report) by 24.1% during the first quarter, according to 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 period. Acadian Asset Management LLC owned about 0.98% of Freightcar America worth $1,034,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in 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. OMERS ADMINISTRATION Corp purchased a new position in Freightcar America in the fourth quarter valued at approximately $212,000. Man Group plc purchased a new stake in shares of Freightcar America during the fourth quarter valued at approximately $480,000. State of Wyoming bought a new stake in shares of Freightcar America in the fourth quarter worth $136,000. Finally, Two Sigma Investments LP acquired a new position in Freightcar America in the fourth quarter worth $254,000. Institutional investors and hedge funds own 31.96% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Freightcar America from a "buy" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $9.00.

Insiders Place Their Bets

In related news, insider Celia Perez sold 7,982 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total value of $68,565.38. Following the completion of the transaction, the insider directly owned 50,326 shares in the company, valued at $432,300.34. The trade was a 13.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.70% of the company's stock.

Freightcar America Price Performance

Shares of Freightcar America stock traded down $0.01 on Friday, hitting $9.10. 197,236 shares of the company's stock traded hands, compared to its average volume of 128,949. The company has a fifty day moving average of $9.41 and a two-hundred day moving average of $7.91. The company has a market capitalization of $174.08 million, a price-to-earnings ratio of -13.00 and a beta of 1.95. Freightcar America, Inc. has a one year low of $4.31 and a one year high of $16.10.

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.