Goldman Sachs Group Inc. Buys 39,506 Shares of Freightcar America, Inc. $RAIL

Key Points

• Goldman Sachs Group Inc. increased its stake in Freightcar America, Inc. by 58.8%, acquiring an additional 39,506 shares during the first quarter, bringing its total holdings to approximately 0.56% of the company.
• Several other hedge funds, including Algert Global LLC and Jane Street Group LLC, have also recently adjusted their investments in Freightcar America, collectively increasing interest in the stock among institutional investors.
• Freightcar America's stock is currently trading at $9.46, with a consensus rating of "Buy" but recently downgraded to "hold" by Wall Street Zen, reflecting some caution in the market outlook.

Goldman Sachs Group Inc. boosted its stake in Freightcar America, Inc. (NASDAQ:RAIL - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,656 shares of the transportation company's stock after purchasing an additional 39,506 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.56% of Freightcar America worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Algert Global LLC increased its position in shares of Freightcar America by 49.4% during the first 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 period. Mechanics Financial Corp purchased a new position in Freightcar America during the first quarter valued at approximately $55,000. Dynamic Technology Lab Private Ltd bought a new stake in Freightcar America during the 1st quarter worth approximately $61,000. Jane Street Group LLC lifted its stake in Freightcar America by 13.1% in the 1st quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company's stock worth $601,000 after purchasing an additional 12,610 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Freightcar America in the 1st quarter worth approximately $74,000. Hedge funds and other institutional investors own 31.96% of the company's stock.

Freightcar America Trading Down 0.3%

RAIL stock opened at $9.46 on Friday. The company's 50 day moving average is $9.27 and its 200 day moving average is $7.98. The stock has a market cap of $180.97 million, a price-to-earnings ratio of -13.51 and a beta of 1.95. Freightcar America, Inc. has a 1-year low of $4.31 and a 1-year high of $16.10.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Freightcar America from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $9.00.

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.

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