Summit Securities Group LLC Buys New Shares 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 acquired a new position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,062 shares of the company's stock, valued at approximately $238,000.

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of Amentum by 108.0% during the 1st quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after acquiring an additional 916 shares during the period. FNY Investment Advisers LLC raised its position in Amentum by 380.0% during the first quarter. FNY Investment Advisers LLC now owns 2,400 shares of the company's stock valued at $43,000 after purchasing an additional 1,900 shares in the last quarter. GAMMA Investing LLC lifted its stake in Amentum by 78.8% during the first quarter. GAMMA Investing LLC now owns 3,137 shares of the company's stock worth $57,000 after purchasing an additional 1,383 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Amentum by 382.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,748 shares of the company's stock worth $58,000 after buying an additional 2,178 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Amentum by 43.3% in the 4th quarter. State of Wyoming now owns 2,756 shares of the company's stock valued at $58,000 after purchasing an additional 833 shares in the last quarter. 39.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AMTM. Bank of America upped their price target on shares of Amentum from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating and set a $30.00 price objective on shares of Amentum in a research report on Monday. JMP Securities reaffirmed a "market outperform" rating and issued a $30.00 target price on shares of Amentum in a report on Monday. Truist Financial increased their target price on Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada lifted their price target on Amentum from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.30.

Amentum Trading Down 0.9%

AMTM traded down $0.2250 during midday trading on Wednesday, hitting $24.1450. 1,460,973 shares of the company were exchanged, compared to its average volume of 2,249,476. The firm's 50 day moving average price is $24.22 and its 200-day moving average price is $21.44. Amentum Holdings, Inc. has a 1-year low of $16.01 and a 1-year high of $34.50. The firm has a market capitalization of $5.88 billion and a P/E ratio of 61.91. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.97.

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

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.