Russell Investments Group Ltd. Buys 114,945 Shares of Freightcar America, Inc. $RAIL

Key Points

• Russell Investments Group Ltd. increased its stake in Freightcar America by 435.5%, purchasing an additional 114,945 shares during the first quarter, bringing its total ownership to 141,337 shares worth approximately $782,000.
• Analysts from Wall Street Zen downgraded Freightcar America from a "buy" rating to a "hold" rating, while the stock maintains an average target price of $9.00.
• Insider Celia Perez sold 7,982 shares of Freightcar America, resulting in a 13.69% decrease in her ownership, and raising questions about insider confidence in the stock.

Russell Investments Group Ltd. boosted its holdings in shares of Freightcar America, Inc. (NASDAQ:RAIL - Free Report) by 435.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,337 shares of the transportation company's stock after acquiring an additional 114,945 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.74% of Freightcar America worth $782,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ancora Advisors LLC bought a new stake in shares of Freightcar America during the 4th quarter worth about $2,711,000. Millennium Management LLC boosted its stake in shares of Freightcar America by 170.7% during the 4th quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock worth $1,255,000 after acquiring an additional 88,356 shares in the last quarter. 683 Capital Management LLC bought a new stake in shares of Freightcar America during the 4th quarter worth about $625,000. Dimensional Fund Advisors LP boosted its stake in shares of Freightcar America by 81.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 61,209 shares of the transportation company's stock worth $549,000 after acquiring an additional 27,521 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Freightcar America during the 4th quarter worth about $480,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

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

Freightcar America Stock Down 2.0%

Freightcar America stock traded down $0.17 during trading hours on Wednesday, hitting $8.23. The stock had a trading volume of 89,950 shares, compared to its average volume of 225,856. The company has a 50-day moving average of $9.69 and a two-hundred day moving average of $7.92. The company has a market cap of $157.32 million, a PE ratio of -11.75 and a beta of 1.95. Freightcar America, Inc. has a fifty-two week low of $4.31 and a fifty-two week high of $16.10.

About Freightcar America

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.