ABS Direct Equity Fund LLC Invests $592,000 in Amentum Holdings, Inc. (NYSE:AMTM)

ABS Direct Equity Fund LLC acquired a new stake in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,500 shares of the company's stock, valued at approximately $592,000.

Other hedge funds have also made changes to their positions in the company. Huntington National Bank purchased a new stake in Amentum during the fourth quarter worth about $30,000. IFP Advisors Inc lifted its position in shares of Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock valued at $35,000 after acquiring an additional 833 shares during the period. Asset Planning Inc purchased a new stake in shares of Amentum during the 4th quarter worth approximately $36,000. Horizon Investments LLC acquired a new stake in shares of Amentum in the 4th quarter worth approximately $36,000. Finally, National Bank of Canada FI increased its stake in Amentum by 31,328.6% in the 4th quarter. National Bank of Canada FI now owns 2,200 shares of the company's stock valued at $46,000 after purchasing an additional 2,193 shares in the last quarter. Hedge funds and other institutional investors own 39.93% of the company's stock.

Amentum Trading Down 2.0%

Shares of AMTM traded down $0.45 during trading hours on Wednesday, hitting $21.87. 2,976,317 shares of the company were exchanged, compared to its average volume of 2,761,012. The firm has a fifty day simple moving average of $20.93 and a 200-day simple moving average of $20.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.56 and a current ratio of 1.56. Amentum Holdings, Inc. has a one year low of $16.01 and a one year high of $34.47.

Amentum (NYSE:AMTM - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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. As a group, analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMTM has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on shares of Amentum in a research note on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price objective for the company. Citizens Jmp initiated coverage on Amentum in a report on Monday, May 12th. They issued an "outperform" rating and a $30.00 price target for the company. The Goldman Sachs Group started coverage on Amentum in a research note on Thursday, March 20th. They set a "neutral" rating and a $21.00 price objective on the stock. Bank of America assumed coverage on shares of Amentum in a report on Tuesday, June 10th. They issued a "neutral" rating and a $24.00 target price on the stock. Finally, Truist Financial cut their price objective on shares of Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $25.22.

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.