Baker Avenue Asset Management LP Takes Position in Amentum Holdings, Inc. (NYSE:AMTM)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Kovitz Investment Group Partners LLC lifted its position in Amentum by 10,851.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock valued at $310,978,000 after purchasing an additional 14,652,319 shares during the period. Invesco Ltd. boosted its stake in shares of Amentum by 77.6% in the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company's stock valued at $291,397,000 after buying an additional 6,055,638 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in Amentum by 396.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company's stock worth $87,422,000 after acquiring an additional 3,319,364 shares during the period. Vanguard Group Inc. raised its position in Amentum by 18.0% in the fourth quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock worth $347,888,000 after acquiring an additional 2,529,173 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Amentum by 469.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,948,684 shares of the company's stock valued at $40,981,000 after acquiring an additional 1,606,442 shares during the period. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Amentum in a research report on Thursday, March 20th. They set a "neutral" rating and a $21.00 target price on the stock. Truist Financial dropped their price objective on Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a report 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 objective for the company. Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price objective on shares of Amentum in a research report on Thursday, February 6th. Finally, BTIG Research assumed coverage on Amentum in a research report on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Amentum has an average rating of "Hold" and an average price target of $24.71.

Insider Transactions at Amentum

In other Amentum news, Director Barbara Loughran bought 4,600 shares of Amentum stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now directly owns 4,600 shares of the company's stock, valued at $97,658. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven J. Demetriou acquired 100,000 shares of Amentum stock in a transaction that occurred on 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 acquisition, the insider now directly owns 620,893 shares in the company, valued at $12,920,783.33. This represents a 19.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.67% of the company's stock.

Amentum Trading Down 0.9 %

Shares of AMTM traded down $0.19 during midday trading on Friday, reaching $21.12. The stock had a trading volume of 1,760,610 shares, compared to its average volume of 2,796,011. The firm has a 50 day simple moving average of $19.14 and a 200-day simple moving average of $21.87. Amentum Holdings, Inc. has a one year low of $16.01 and a one year high of $34.47. 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 (NYSE:AMTM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, equities analysts expect that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

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.