Insider Buying: FreightCar America, Inc. (NASDAQ:RAIL) CEO Buys 25,000 Shares of Stock

FreightCar America, Inc. (NASDAQ:RAILGet Rating) CEO James R. Meyer purchased 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average cost of $3.64 per share, for a total transaction of $91,000.00. Following the completion of the purchase, the chief executive officer now owns 433,101 shares of the company’s stock, valued at approximately $1,576,487.64. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Shares of FreightCar America stock opened at $3.91 on Friday. FreightCar America, Inc. has a 52-week low of $3.06 and a 52-week high of $7.69. The company has a 50 day moving average of $5.15 and a 200 day moving average of $4.37.

FreightCar America (NASDAQ:RAILGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The transportation company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.14). FreightCar America had a negative return on equity of 3,048.14% and a negative net margin of 10.05%. During the same quarter in the previous year, the company posted ($0.48) EPS. On average, equities research analysts anticipate that FreightCar America, Inc. will post -0.18 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in RAIL. Dynamic Technology Lab Private Ltd acquired a new position in shares of FreightCar America during the 3rd quarter worth $48,000. GSA Capital Partners LLP purchased a new position in shares of FreightCar America in the 3rd quarter worth $49,000. Wells Fargo & Company MN grew its holdings in shares of FreightCar America by 293.7% during the 2nd quarter. Wells Fargo & Company MN now owns 8,779 shares of the transportation company’s stock worth $52,000 after purchasing an additional 6,549 shares during the period. Morgan Stanley grew its holdings in shares of FreightCar America by 246.1% during the 1st quarter. Morgan Stanley now owns 8,974 shares of the transportation company’s stock worth $59,000 after purchasing an additional 6,381 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in FreightCar America in the 1st quarter worth approximately $73,000. 86.59% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of FreightCar America from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Saturday, March 19th.

FreightCar America Company Profile (Get Rating)

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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