Wolverine Asset Management LLC Invests $605,000 in Amentum Holdings, Inc. (NYSE:AMTM)

Key Points

• Wolverine Asset Management LLC purchased 33,240 shares of Amentum Holdings, valued at approximately $605,000, during the first quarter of the year.
• Several institutional investors increased their stakes in Amentum, with Principal Financial Group Inc. growing its stake by 18.3%.
• Amentum's quarterly earnings report showed an EPS of $0.56, surpassing analysts' expectations by $0.03, despite revenues falling short of projections.

Wolverine Asset Management LLC acquired a new position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 33,240 shares of the company's stock, valued at approximately $605,000.

Other hedge funds have also recently bought and sold shares of the company. American Securities LLC purchased a new stake in Amentum during the first quarter valued at about $798,869,000. Kovitz Investment Group Partners LLC lifted its holdings in 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 valued at $310,978,000 after purchasing an additional 14,652,319 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Amentum by 56.9% during the first quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock valued at $183,121,000 after purchasing an additional 3,647,210 shares during the last quarter. Cooper Creek Partners Management LLC lifted 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 valued at $87,422,000 after purchasing an additional 3,319,364 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Amentum by 149.5% during the fourth quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company's stock valued at $49,068,000 after purchasing an additional 1,398,143 shares during the last quarter. 39.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMTM shares. Bank of America upped their price objective on shares of Amentum from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday. Royal Bank Of Canada upped their price objective on shares of Amentum from $24.00 to $26.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Truist Financial increased their price target on shares of Amentum from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group raised their price objective on shares of Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Citizens Jmp initiated coverage on shares of Amentum in a research report on Monday, May 12th. They issued an "outperform" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $27.00.

Amentum Price Performance

Shares of AMTM stock traded down $0.28 during trading hours on Friday, reaching $25.16. The stock had a trading volume of 292,482 shares, compared to its average volume of 2,257,398. The stock's fifty day simple moving average is $24.09 and its 200 day simple moving average is $21.33. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.97. Amentum Holdings, Inc. has a 12 month low of $16.01 and a 12 month high of $34.50. The firm has a market capitalization of $6.12 billion and a PE ratio of 64.41.

Amentum (NYSE:AMTM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amentum had a net margin of 0.41% and a return on equity of 10.90%. Amentum's quarterly revenue was up 66.2% compared to the same quarter last year. On average, equities research analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

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.