Engine Capital Management LP Takes Position in Amentum Holdings, Inc. (NYSE:AMTM)

Engine Capital Management LP bought a new position in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 621,400 shares of the company's stock, valued at approximately $13,068,000. Amentum comprises about 2.4% of Engine Capital Management LP's investment portfolio, making the stock its 16th largest position. Engine Capital Management LP owned 0.26% of Amentum as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Huntington National Bank acquired a new position in shares of Amentum during the 4th quarter worth $30,000. IFP Advisors Inc raised its stake in shares of Amentum by 119.2% in the fourth quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock worth $35,000 after acquiring an additional 833 shares during the last quarter. Asset Planning Inc bought a new position in shares of Amentum in the 4th quarter worth $36,000. Horizon Investments LLC bought a new stake in Amentum in the fourth quarter valued at approximately $36,000. Finally, GAMMA Investing LLC increased its position in shares of Amentum by 333.1% during the fourth quarter. GAMMA Investing LLC now owns 1,754 shares of the company's stock worth $37,000 after acquiring an additional 1,349 shares in the last quarter. Institutional investors own 39.93% of the company's stock.

Amentum Price Performance

AMTM stock traded down $0.20 during trading on Wednesday, hitting $20.95. 724,604 shares of the company traded hands, compared to its average volume of 2,774,596. Amentum Holdings, Inc. has a 1 year low of $16.01 and a 1 year high of $34.47. The stock's 50-day simple moving average is $19.23 and its 200 day simple moving average is $21.75. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMTM shares. Truist Financial lowered their price target on Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley initiated coverage on shares of Amentum in a report on Wednesday, April 16th. They set an "underweight" rating and a $19.00 target price on the stock. Citizens Jmp started coverage on shares of Amentum in a research report on Monday. They set an "outperform" rating and a $30.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Amentum in a report on Thursday, March 20th. They set a "neutral" rating and a $21.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $25.38.

Insider Buying and Selling at Amentum

In other news, Director Barbara Loughran purchased 4,600 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $21.23 per share, with a total value of $97,658.00. Following the completion of the transaction, the director now owns 4,600 shares in the company, valued at approximately $97,658. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.67% 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.