North Star Investment Management Corp. Invests $1.50 Million in Freightcar America, Inc. $RAIL

Key Points

• North Star Investment Management Corp. has invested approximately $1.50 million in Freightcar America by purchasing 173,800 shares, representing about 0.91% of the company.
• Freightcar America has seen significant investment activity from multiple institutional investors, with Russell Investments Group Ltd. increasing its position by 435.5% in the first quarter.
• While Freightcar America recently experienced a downgrade to a "hold" rating from Wall Street Zen, it still maintains an average rating of "Buy" with a consensus target price of $9.00.

North Star Investment Management Corp. bought a new stake in Freightcar America, Inc. (NASDAQ:RAIL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 173,800 shares of the transportation company's stock, valued at approximately $1,498,000. North Star Investment Management Corp. owned approximately 0.91% of Freightcar America at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RAIL. Russell Investments Group Ltd. lifted its position in Freightcar America by 435.5% in the first quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company's stock valued at $782,000 after acquiring an additional 114,945 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Freightcar America by 170.7% in the fourth quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock valued at $1,255,000 after acquiring an additional 88,356 shares during the period. Jane Street Group LLC grew its position in shares of Freightcar America by 13.1% during the first quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company's stock worth $601,000 after acquiring an additional 12,610 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Freightcar America by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company's stock worth $590,000 after acquiring an additional 39,506 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Freightcar America by 204.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,100 shares of the transportation company's stock valued at $399,000 after acquiring an additional 48,400 shares during the period. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Freightcar America Stock Performance

Shares of Freightcar America stock opened at $9.46 on Friday. The company has a market cap of $180.97 million, a P/E ratio of -13.51 and a beta of 1.95. The firm has a fifty day moving average of $9.27 and a two-hundred day moving average of $7.98. Freightcar America, Inc. has a one year low of $4.31 and a one year high of $16.10.

Analyst Upgrades and Downgrades

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

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.

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