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

Amentum Holdings, Inc. (NYSE:AMTM) traded 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 were traded during mid-day 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

AMTM has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 target price on shares of Amentum in a research report on Thursday, February 6th. The Goldman Sachs Group began coverage on shares of Amentum in a research note on Thursday, March 20th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Amentum has an average rating of “Hold” and a consensus price target of $26.20.

Amentum Stock Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a 50-day moving average price of $19.77.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMTM. Charles Schwab Investment Management Inc. acquired a new position in Amentum during the third quarter worth $24,527,000. Citigroup Inc. acquired a new position in shares of Amentum during the 3rd quarter valued at about $3,704,000. The Manufacturers Life Insurance Company bought a new position in shares of Amentum in the 3rd quarter valued at approximately $2,549,000. FMR LLC acquired a new stake in Amentum in the 3rd quarter worth approximately $2,558,000. Finally, MetLife Investment Management LLC bought a new stake in Amentum during the third quarter worth approximately $1,050,000. Institutional investors own 39.93% of the company’s stock.

About Amentum

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.