Amentum (NYSE:AMTM) Trading Up 8.3% – Here’s What Happened

Amentum Holdings, Inc. (NYSE:AMTM) shot up 8.3% during mid-day trading on Wednesday . The company traded as high as $19.40 and last traded at $19.35. 1,546,609 shares traded hands during trading, a decline of 37% from the average session volume of 2,457,832 shares. The stock had previously closed at $17.87.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMTM shares. Cantor Fitzgerald raised Amentum to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. Finally, The Goldman Sachs Group started coverage on shares of Amentum in a research note on Thursday, March 20th. They set a “neutral” rating and a $21.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.20.

Amentum Trading Down 5.0 %

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02. The company’s 50 day moving average is $19.55.

Amentum (NYSE:AMTM) last released its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Research analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Insider Activity at Amentum

In other Amentum news, insider Steven J. Demetriou bought 100,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was acquired at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the completion of the transaction, the insider now directly owns 620,893 shares in the company, valued at approximately $12,920,783.33. This represents a 19.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara Loughran purchased 4,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $21.23 per share, for a total transaction of $97,658.00. Following the completion of the transaction, the director now directly owns 4,600 shares of the company’s stock, valued at $97,658. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 18.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cacti Asset Management LLC raised its holdings in shares of Amentum by 1.2% during the first quarter. Cacti Asset Management LLC now owns 834,442 shares of the company’s stock worth $15,078,000 after acquiring an additional 9,978 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Amentum by 149.5% in the 4th quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company’s stock valued at $49,068,000 after buying an additional 1,398,143 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Amentum during the fourth quarter valued at approximately $676,000. Jefferies Financial Group Inc. acquired a new stake in Amentum in the fourth quarter valued at approximately $249,000. Finally, Shufro Rose & Co. LLC bought a new stake in Amentum in the fourth quarter worth approximately $287,000. 39.93% of the stock is owned by hedge funds and other institutional investors.

Amentum Company Profile

Amentum Holdings, Inc provides engineering and technology solutions to address challenges in science, security, and sustainability. It serves various markets, such as energy and environment, space, intelligence, defense, civilian, commercial, and international markets. The company was incorporated in 2010 and is headquatered in Chantilly, Virginia.