Victory Capital Management Inc. Buys Shares of 15,836 Freightcar America, Inc. (NASDAQ:RAIL)

Victory Capital Management Inc. acquired a new position in Freightcar America, Inc. (NASDAQ:RAIL) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,836 shares of the transportation company’s stock, valued at approximately $88,000. Victory Capital Management Inc. owned approximately 0.08% of Freightcar America at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Freightcar America by 125.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock worth $3,486,000 after purchasing an additional 216,307 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Freightcar America in the fourth quarter worth $2,711,000. Renaissance Technologies LLC increased its stake in shares of Freightcar America by 128.5% in the fourth quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company’s stock worth $2,529,000 after purchasing an additional 158,700 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Freightcar America in the fourth quarter worth $2,399,000. Finally, Millennium Management LLC increased its stake in shares of Freightcar America by 170.7% in the fourth quarter. Millennium Management LLC now owns 140,108 shares of the transportation company’s stock worth $1,255,000 after purchasing an additional 88,356 shares in the last quarter. 31.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Freightcar America news, insider Celia Perez sold 7,982 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total transaction of $68,565.38. Following the completion of the transaction, the insider owned 50,326 shares in the company, valued at $432,300.34. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 28.70% of the stock is owned by company insiders.

Freightcar America Stock Performance

RAIL opened at $9.80 on Monday. The stock has a market capitalization of $186.59 million, a price-to-earnings ratio of -10.54 and a beta of 1.85. The company has a fifty day moving average of $9.40 and a 200 day moving average of $8.43. Freightcar America, Inc. has a fifty-two week low of $3.12 and a fifty-two week high of $16.10.

Analysts Set New Price Targets

RAIL has been the subject of several research analyst reports. Wall Street Zen cut shares of Freightcar America from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Northcoast Research initiated coverage on shares of Freightcar America in a research note on Thursday, May 1st. They set a “buy” rating and a $9.00 target price for the company.

Freightcar America Profile

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.