Alpine Global Management LLC Makes New Investment in Amentum Holdings, Inc. (NYSE:AMTM)

Alpine Global Management LLC acquired 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,000 shares of the company's stock, valued at approximately $526,000.

Several other hedge funds have also modified their holdings of the stock. Foundations Investment Advisors LLC bought a new position in Amentum in the fourth quarter valued at approximately $409,000. New York State Common Retirement Fund increased its holdings in Amentum by 382.6% in the fourth quarter. New York State Common Retirement Fund now owns 378,952 shares of the company's stock valued at $7,969,000 after purchasing an additional 300,431 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Amentum by 236.8% in the fourth quarter. Yousif Capital Management LLC now owns 48,770 shares of the company's stock valued at $1,026,000 after buying an additional 34,291 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amentum by 66.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,264,257 shares of the company's stock worth $26,587,000 after buying an additional 503,741 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of Amentum during the 4th quarter worth about $23,812,000. 39.93% of the stock is owned by institutional investors.

Amentum Stock Performance

Shares of AMTM traded down $0.46 during mid-day trading on Wednesday, hitting $20.79. 419,163 shares of the company's stock were exchanged, compared to its average volume of 2,728,718. 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 Holdings, Inc. has a 52 week low of $16.01 and a 52 week high of $34.47. The stock's 50-day simple moving average is $19.79 and its 200-day simple moving average is $21.08.

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 analysts' consensus estimates 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. Research analysts predict that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMTM shares. Citizens Jmp began coverage on shares of Amentum in a research report on Monday, May 12th. They set an "outperform" rating and a $30.00 price target on the stock. BTIG Research assumed coverage on shares of Amentum in a report on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price on the stock. Truist Financial reduced their price target on shares of Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group began coverage on Amentum in a report on Thursday, March 20th. They issued a "neutral" rating and a $21.00 price target on the stock. Finally, Royal Bank of Canada set a $24.00 price objective on Amentum and gave the stock a "sector perform" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $25.38.

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.