Millennium Management LLC Has $36.62 Million Holdings in Amentum Holdings, Inc. $AMTM

Key Points

• Millennium Management LLC increased its stake in Amentum Holdings by 68.1% in Q1, acquiring an additional 815,218 shares, bringing its total ownership to approximately 2,011,792 shares valued at $36.6 million.
• Amentum reported $0.56 earnings per share, surpassing estimates, with a revenue of $2.23 billion reflecting a 66.2% year-over-year increase.
• Analysts have a consensus "Hold" rating on Amentum, with the average price target set at $27.30, amidst various ratings adjustments from firms like Raymond James and Goldman Sachs.

Millennium Management LLC increased its stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 68.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,011,792 shares of the company's stock after buying an additional 815,218 shares during the period. Millennium Management LLC owned 0.83% of Amentum worth $36,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Securities LLC bought a new stake in shares of Amentum during the 1st quarter worth about $798,869,000. Invesco Ltd. boosted its holdings in shares of Amentum by 24.1% during the 1st quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock worth $312,878,000 after buying an additional 3,334,871 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Amentum by 56.9% during the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock worth $183,121,000 after buying an additional 3,647,210 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Amentum by 149.5% during the 4th quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company's stock worth $49,068,000 after buying an additional 1,398,143 shares during the period. Finally, Voss Capital LP boosted its holdings in shares of Amentum by 393.7% during the 1st quarter. Voss Capital LP now owns 2,220,709 shares of the company's stock worth $40,417,000 after buying an additional 1,770,891 shares during the period. Institutional investors own 39.93% of the company's stock.

Amentum Trading Down 3.0%

AMTM traded down $0.71 during trading on Monday, reaching $23.14. 657,117 shares of the company's stock were exchanged, compared to its average volume of 2,146,108. Amentum Holdings, Inc. has a one year low of $16.01 and a one year high of $34.50. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.63 billion and a PE ratio of 59.40. The firm has a fifty day moving average price of $24.77 and a two-hundred day moving average price of $21.92.

Amentum (NYSE:AMTM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.51 billion. The firm's revenue was up 66.2% compared to the same quarter last year. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. As a group, equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $30.00 price objective on shares of Amentum in a report on Monday, August 18th. Royal Bank Of Canada boosted 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 boosted their price objective on shares of Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group boosted their price objective on shares of Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $30.00 price objective on shares of Amentum in a report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Amentum presently has a consensus rating of "Hold" and a consensus price target of $27.30.

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.