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Allison Transmission Holdings, Inc. (NYSE:ALSN) Sees Large Drop in Short Interest

Tuesday, May 4, 2021 | MarketBeat

Allison Transmission Holdings, Inc. (NYSE:ALSN) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 4,940,000 shares, a decline of 15.4% from the March 31st total of 5,840,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is currently 4.3 days. Approximately 4.5% of the company's shares are sold short.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of Allison Transmission during the 4th quarter valued at about $35,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Allison Transmission in the 4th quarter worth about $38,000. Exane Derivatives purchased a new stake in Allison Transmission in the 1st quarter worth about $47,000. Tompkins Financial Corp purchased a new stake in Allison Transmission in the 4th quarter worth about $48,000. Finally, Perigon Wealth Management LLC purchased a new stake in Allison Transmission in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 98.04% of the company's stock.

Several analysts recently issued reports on ALSN shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Allison Transmission from $44.00 to $46.00 in a research note on Tuesday, March 16th. Vertical Research started coverage on Allison Transmission in a research report on Wednesday, January 20th. They issued a "hold" rating and a $44.00 price target on the stock. Bank of America lowered shares of Allison Transmission from a "neutral" rating to an "underperform" rating in a report on Monday, January 11th. Citigroup boosted their price objective on shares of Allison Transmission from $44.00 to $46.00 in a report on Tuesday, March 16th. Finally, Raymond James reiterated a "market perform" rating on shares of Allison Transmission in a research note on Tuesday, April 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock has an average rating of "Hold" and a consensus price target of $44.86.

ALSN opened at $41.73 on Tuesday. The firm has a 50-day simple moving average of $42.41 and a two-hundred day simple moving average of $41.43. Allison Transmission has a 52 week low of $31.69 and a 52 week high of $46.04. The company has a market capitalization of $4.64 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The company has a quick ratio of 1.40, a current ratio of 1.86 and a debt-to-equity ratio of 3.36.

Allison Transmission (NYSE:ALSN) last released its quarterly earnings data on Tuesday, April 27th. The auto parts company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.90 by $0.17. Allison Transmission had a net margin of 16.00% and a return on equity of 46.60%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $587.48 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The business's revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Allison Transmission will post 2.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 5th. Stockholders of record on Monday, February 22nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.82%. This is a boost from Allison Transmission's previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 19th. Allison Transmission's dividend payout ratio is currently 15.64%.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school and transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.

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