Dark Forest Capital Management LP Sells 9,924 Shares of Allison Transmission Holdings, Inc. (NYSE:ALSN)

Dark Forest Capital Management LP cut its position in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,387 shares of the auto parts company’s stock after selling 9,924 shares during the period. Dark Forest Capital Management LP’s holdings in Allison Transmission were worth $2,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EAM Investors LLC bought a new position in shares of Allison Transmission during the 4th quarter valued at approximately $5,766,000. Smith Group Asset Management LLC bought a new position in Allison Transmission during the fourth quarter valued at $2,161,000. Allspring Global Investments Holdings LLC grew its stake in shares of Allison Transmission by 18.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock worth $31,643,000 after buying an additional 46,435 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Allison Transmission by 14.5% in the 4th quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company’s stock worth $5,729,000 after buying an additional 6,728 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its position in shares of Allison Transmission by 115.6% during the 4th quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock valued at $1,507,000 after buying an additional 7,479 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Allison Transmission Price Performance

Shares of ALSN stock opened at $88.21 on Wednesday. The company has a market capitalization of $7.52 billion, a P/E ratio of 10.61 and a beta of 0.95. The company’s 50-day simple moving average is $95.42 and its two-hundred day simple moving average is $105.82. Allison Transmission Holdings, Inc. has a one year low of $71.49 and a one year high of $122.53. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.04 and a quick ratio of 2.42.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.90 by $0.11. Allison Transmission had a return on equity of 47.95% and a net margin of 22.67%. As a group, equities analysts anticipate that Allison Transmission Holdings, Inc. will post 9.06 EPS for the current year.

Allison Transmission Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.27 dividend. The ex-dividend date was Monday, March 3rd. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. Allison Transmission’s dividend payout ratio is 13.00%.

Allison Transmission announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the auto parts company to buy up to 57.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALSN. Robert W. Baird reduced their price objective on Allison Transmission from $123.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Raymond James decreased their price target on Allison Transmission from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Morgan Stanley dropped their price objective on shares of Allison Transmission from $112.00 to $94.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. StockNews.com downgraded shares of Allison Transmission from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Citigroup cut their price target on shares of Allison Transmission from $108.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.88.

Insiders Place Their Bets

In other Allison Transmission news, VP Ryan A. Milburn sold 4,546 shares of Allison Transmission stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total value of $437,325.20. Following the transaction, the vice president now owns 14,138 shares in the company, valued at $1,360,075.60. The trade was a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Coll sold 1,788 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $95.33, for a total transaction of $170,450.04. Following the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. The trade was a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Allison Transmission Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.