Amentum Holdings, Inc. (NYSE:AMTM) Shares Sold by Tower Bridge Advisors

Key Points

• Tower Bridge Advisors significantly reduced its stake in Amentum Holdings, selling 54,844 shares and holding 38,888 shares valued at approximately $708,000.
• Amentum reported earnings of $0.53 per share for the last quarter, exceeding analysts' expectations of $0.48, and had revenue of $3.49 billion compared to the anticipated $3.44 billion.
• The stock has shown mixed analyst opinions, with one sell rating, four hold ratings, and four buy ratings, leading to an average target price of $25.89 and an average rating of "Hold."

Tower Bridge Advisors cut its stake in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 58.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,888 shares of the company's stock after selling 54,844 shares during the quarter. Tower Bridge Advisors' holdings in Amentum were worth $708,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMTM. Kovitz Investment Group Partners LLC increased its position in Amentum by 10,851.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock valued at $310,978,000 after buying an additional 14,652,319 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Amentum by 77.6% during the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company's stock valued at $291,397,000 after acquiring an additional 6,055,638 shares in the last quarter. Cooper Creek Partners Management LLC raised its position in shares of Amentum by 396.3% in the 4th 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. Vanguard Group Inc. raised its position in shares of Amentum by 18.0% in the 4th quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock valued at $347,888,000 after purchasing an additional 2,529,173 shares during the last quarter. Finally, Norges Bank acquired a new stake in Amentum in the 4th quarter worth approximately $30,286,000. 39.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on AMTM shares. Citizens Jmp began coverage on shares of Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 price target on the stock. BTIG Research began coverage on Amentum in a research report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 target price on the stock. Bank of America began coverage on Amentum in a research report on Tuesday, June 10th. They set a "neutral" rating and a $24.00 price target for the company. Truist Financial boosted their price target on Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada set a $24.00 price objective on Amentum and gave the stock a "sector perform" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.89.

Amentum Trading Down 3.2%

Shares of AMTM stock traded down $0.79 on Friday, hitting $24.18. The company had a trading volume of 1,536,634 shares, compared to its average volume of 1,491,651. Amentum Holdings, Inc. has a twelve month low of $16.01 and a twelve month high of $34.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50-day moving average price of $23.25 and a 200-day moving average price of $21.16.

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

Amentum 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.