Baker Avenue Asset Management LP Invests $520,000 in Amentum Holdings, Inc. (NYSE:AMTM)

Baker Avenue Asset Management LP bought a new position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,740 shares of the company's stock, valued at approximately $520,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Amentum by 18.0% in the 4th quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock worth $347,888,000 after purchasing an additional 2,529,173 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock worth $310,978,000 after acquiring an additional 14,652,319 shares in the last quarter. Invesco Ltd. raised its stake in shares of Amentum by 77.6% during the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company's stock worth $291,397,000 after acquiring an additional 6,055,638 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Amentum by 21.7% in the 4th quarter. Primecap Management Co. CA now owns 6,414,379 shares of the company's stock worth $134,894,000 after acquiring an additional 1,143,097 shares during the last quarter. Finally, Cooper Creek Partners Management LLC boosted its stake in shares of Amentum by 396.3% in the 4th quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company's stock valued at $87,422,000 after purchasing an additional 3,319,364 shares in the last quarter. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amentum

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

Amentum Trading Down 0.9 %

Shares of AMTM stock traded down $0.19 during mid-day trading on Friday, reaching $21.12. 1,760,610 shares of the company's stock traded hands, compared to its average volume of 2,796,011. The company's 50-day moving average price is $19.14 and its 200-day moving average price is $21.92. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59. Amentum Holdings, Inc. has a 12 month low of $16.01 and a 12 month high of $34.47.

Amentum (NYSE:AMTM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.44 billion. On average, equities analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

AMTM has been the subject of a number of recent research reports. BTIG Research began coverage on Amentum in a research note on Tuesday, April 15th. They issued a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group initiated coverage on Amentum in a research note on Thursday, March 20th. They set a "neutral" rating and a $21.00 price objective for the company. Truist Financial decreased their target price on shares of Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley assumed coverage on shares of Amentum in a research report on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price target for the company. Finally, Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $24.71.

Amentum 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.