Insider Buying: FreightCar America, Inc. (NASDAQ:RAIL) Director Purchases $251,316.00 in Stock

FreightCar America, Inc. (NASDAQ:RAIL) Director James R. Meyer acquired 23,400 shares of FreightCar America stock in a transaction dated Thursday, November 14th. The shares were bought at an average cost of $10.74 per share, with a total value of $251,316.00. Following the transaction, the director now owns 838,278 shares in the company, valued at approximately $9,003,105.72. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

FreightCar America Trading Down 4.7 %

Shares of NASDAQ:RAIL traded down $0.47 during mid-day trading on Monday, hitting $9.43. 583,719 shares of the company traded hands, compared to its average volume of 179,617. The stock has a 50-day moving average price of $11.83 and a two-hundred day moving average price of $6.86. The stock has a market cap of $178.17 million, a P/E ratio of -2.22 and a beta of 2.00. FreightCar America, Inc. has a 12-month low of $2.25 and a 12-month high of $16.10.

Analyst Ratings Changes

Separately, StockNews.com raised shares of FreightCar America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On FreightCar America

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of FreightCar America by 4.7% in the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after buying an additional 26,412 shares in the last quarter. Geode Capital Management LLC lifted its position in FreightCar America by 12.4% in the 3rd quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company’s stock worth $1,950,000 after buying an additional 19,890 shares during the last quarter. Renaissance Technologies LLC boosted its stake in FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after buying an additional 35,387 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in FreightCar America during the third quarter valued at approximately $1,067,000. Finally, Walleye Capital LLC purchased a new position in shares of FreightCar America during the third quarter worth approximately $813,000. Hedge funds and other institutional investors own 31.96% of the company’s stock.

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.