FreightCar America (NASDAQ:RAIL) Now Covered by StockNews.com

StockNews.com started coverage on shares of FreightCar America (NASDAQ:RAILFree Report) in a research report released on Saturday. The brokerage issued a hold rating on the transportation company’s stock.

FreightCar America Stock Up 2.0 %

Shares of FreightCar America stock opened at $2.99 on Friday. FreightCar America has a twelve month low of $2.25 and a twelve month high of $3.94. The stock has a market cap of $53.52 million, a price-to-earnings ratio of -2.27 and a beta of 1.92. The company’s fifty day moving average is $2.60 and its 200 day moving average is $2.66.

Insider Buying and Selling

In other FreightCar America news, major shareholder Benavides Alejandro Gil acquired 21,400 shares of FreightCar America stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $2.44 per share, with a total value of $52,216.00. Following the completion of the purchase, the insider now directly owns 180,000 shares in the company, valued at approximately $439,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FreightCar America

Several hedge funds and other institutional investors have recently bought and sold shares of RAIL. Allianz Asset Management GmbH lifted its holdings in FreightCar America by 69.9% in the first quarter. Allianz Asset Management GmbH now owns 693,077 shares of the transportation company’s stock valued at $4,096,000 after buying an additional 285,119 shares during the period. Walleye Capital LLC acquired a new position in FreightCar America in the first quarter valued at $820,000. Ancora Advisors LLC acquired a new position in FreightCar America in the first quarter valued at $386,000. Renaissance Technologies LLC acquired a new position in shares of FreightCar America during the second quarter valued at about $156,000. Finally, PDT Partners LLC acquired a new position in shares of FreightCar America during the second quarter valued at about $94,000. Institutional investors and hedge funds own 86.37% of the company’s stock.

FreightCar America Company Profile

(Get Free Report)

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars and railcar components for the transportation of bulk commodities and containerized freight products primarily in North America. It operates in two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers; covered hopper cars; gondolas; triple hoppers and hybrid aluminum/stainless steel railcars; ore hopper and gondola railcars; ballast hopper cars; aggregate hopper cars; intermodal flats; and non-intermodal flat cars.

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