Amentum (NYSE:AMTM) Stock Price Up 8.3% – Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM) shares traded up 8.3% during mid-day trading on Friday . The stock traded as high as $19.79 and last traded at $19.85. 1,550,294 shares traded hands during trading, a decline of 42% from the average session volume of 2,694,491 shares. The stock had previously closed at $18.33.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMTM shares. Raymond James initiated coverage on shares of Amentum in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price target on shares of Amentum in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald raised shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th.

Amentum Price Performance

The company’s 50-day moving average is $21.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59.

Amentum (NYSE:AMTM) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. As a group, sell-side analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven J. Demetriou acquired 100,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were bought at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the completion of the acquisition, the insider now owns 620,893 shares in the company, valued at $12,920,783.33. This trade represents a 19.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara Loughran acquired 4,600 shares of Amentum stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now directly owns 4,600 shares in the company, valued at approximately $97,658. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 18.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC increased its position in shares of Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company’s stock worth $310,978,000 after purchasing an additional 14,652,319 shares in the last quarter. State Street Corp purchased a new position in Amentum during the 3rd quarter worth approximately $236,306,000. Invesco Ltd. increased its position in Amentum by 77.6% during the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company’s stock worth $291,397,000 after buying an additional 6,055,638 shares during the period. Primecap Management Co. CA purchased a new stake in Amentum in the third quarter valued at approximately $169,999,000. Finally, Cooper Creek Partners Management LLC boosted its holdings in shares of Amentum by 396.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company’s stock valued at $87,422,000 after acquiring an additional 3,319,364 shares during the period. 39.93% of the stock is owned by hedge funds and other institutional investors.

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.