Summit Securities Group LLC Purchases New Position in Amentum Holdings, Inc. $AMTM

Key Points

• Summit Securities Group LLC invested $238,000 in Amentum Holdings, acquiring 13,062 shares of the company during the first quarter.
• Other institutional investors, including American Securities LLC and Kovitz Investment Group, significantly increased their stakes in Amentum, indicating strong institutional interest.
• Amentum's stock currently has a market capitalization of $6.13 billion, and recent earnings exceeded analyst estimates with a revenue of $2.23 billion, reflecting a 66.2% increase year-over-year.

Summit Securities Group LLC bought a new position in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,062 shares of the company's stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMTM. Signaturefd LLC grew its position in Amentum by 108.0% in the first quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after acquiring an additional 916 shares in the last quarter. FNY Investment Advisers LLC grew its position in Amentum by 380.0% in the first quarter. FNY Investment Advisers LLC now owns 2,400 shares of the company's stock worth $43,000 after acquiring an additional 1,900 shares in the last quarter. GAMMA Investing LLC grew its position in Amentum by 78.8% in the first quarter. GAMMA Investing LLC now owns 3,137 shares of the company's stock worth $57,000 after acquiring an additional 1,383 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Amentum by 382.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,748 shares of the company's stock worth $58,000 after acquiring an additional 2,178 shares in the last quarter. Finally, State of Wyoming grew its position in Amentum by 43.3% in the fourth quarter. State of Wyoming now owns 2,756 shares of the company's stock worth $58,000 after acquiring an additional 833 shares in the last quarter. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMTM shares. The Goldman Sachs Group upped their price target on shares of Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Citizens Jmp started coverage on shares of Amentum in a research report on Monday, May 12th. They set an "outperform" rating and a $30.00 price target for the company. Bank of America upped their price target on shares of Amentum from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. JMP Securities restated a "market outperform" rating and set a $30.00 price target on shares of Amentum in a research report on Monday. Finally, 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 research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.30.

Amentum Stock Up 2.7%

AMTM traded up $0.6550 on Friday, hitting $24.9250. The company had a trading volume of 303,659 shares, compared to its average volume of 2,227,237. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.58 and a quick ratio of 1.58. Amentum Holdings, Inc. has a 52-week low of $16.01 and a 52-week high of $34.50. The stock has a fifty day simple moving average of $24.28 and a 200-day simple moving average of $21.49. The firm has a market capitalization of $6.07 billion and a P/E ratio of 63.98.

Amentum (NYSE:AMTM - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during 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 analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

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.