How FreightCar America, Inc. (RAIL) Stacks Up Against Its Peers

Due to the fact that FreightCar America, Inc. (NASDAQ:RAIL) has weathered bearish sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of hedge funds that decided to sell off their positions entirely in the third quarter. Interestingly, Ken Griffin’s Citadel Investment Group sold off the biggest position of all the investors tracked by Insider Monkey, valued at an estimated $0.5 million in stock. Dmitry Balyasny’s fund, Balyasny Asset Management, also sold off its stock, about $0.2 million worth.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as FreightCar America, Inc. (NASDAQ:RAIL) but similarly valued. These stocks are Wi-LAN Inc – US listing (NASDAQ:WILN), Ceragon Networks Ltd. (NASDAQ:CRNT), Capstar Financial Holdings Inc (NASDAQ:CSTR), and RTI Biologics Inc. (NASDAQ:RTIX). All of these stocks’ market caps are similar to RAIL’s market cap.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $12 million. That figure was $18 million in RAIL’s case. RTI Biologics Inc. (NASDAQ:RTIX) is the most popular stock in this table. On the other hand Wi-LAN Inc – US listing (NASDAQ:WILN) is the least popular one with only 3 bullish hedge fund positions. FreightCar America, Inc. (NASDAQ:RAIL) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RTIX might be a better candidate to consider taking a long position in.

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