Walleye Capital LLC Trims Stake in Freightcar America, Inc. $RAIL

Walleye Capital LLC lessened its position in Freightcar America, Inc. (NASDAQ:RAIL) by 74.6% in the first quarter, HoldingsChannel reports. The firm owned 43,324 shares of the transportation company’s stock after selling 127,506 shares during the quarter. Walleye Capital LLC’s holdings in Freightcar America were worth $345,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Freightcar America by 208.6% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares during the period. Royal Bank of Canada boosted its holdings in shares of Freightcar America by 2,843.5% during the 4th quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock valued at $45,000 after buying an additional 3,924 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Freightcar America by 24.7% during the 2nd quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock valued at $177,000 after buying an additional 4,067 shares in the last quarter. Man Group plc grew its position in shares of Freightcar America by 15.8% in the 4th quarter. Man Group plc now owns 30,743 shares of the transportation company’s stock worth $340,000 after buying an additional 4,191 shares during the period. Finally, Quarry LP bought a new position in shares of Freightcar America in the 3rd quarter worth about $53,000. 31.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Freightcar America in a research note on Friday, June 5th. Zacks Research downgraded shares of Freightcar America from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Freightcar America presently has an average rating of “Reduce”.

Freightcar America Stock Performance

Shares of RAIL stock opened at $8.40 on Friday. The company has a market capitalization of $160.78 million, a price-to-earnings ratio of 11.35 and a beta of 1.44. Freightcar America, Inc. has a one year low of $7.27 and a one year high of $14.90. The company’s 50-day moving average is $8.31 and its 200 day moving average is $9.68.

Freightcar America (NASDAQ:RAIL) last issued its earnings results on Monday, May 4th. The transportation company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). The firm had revenue of $64.31 million during the quarter, compared to analysts’ expectations of $74.60 million. Freightcar America had a negative return on equity of 15.56% and a net margin of 6.25%. As a group, research analysts predict that Freightcar America, Inc. will post 0.4 earnings per share for the current fiscal year.

Freightcar America Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.