Amentum (NYSE:AMTM) Sees Large Volume Increase – Here’s What Happened

Amentum Holdings, Inc. (NYSE:AMTM) saw strong trading volume on Wednesday . 3,296,768 shares changed hands during mid-day trading, an increase of 21% from the previous session’s volume of 2,713,481 shares.The stock last traded at $18.19 and had previously closed at $17.04.

Analyst Ratings Changes

AMTM has been the topic of several research reports. Cantor Fitzgerald raised Amentum to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price target on shares of Amentum in a research note on Thursday, February 6th. Finally, Raymond James started coverage on Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company.

Amentum Stock Up 6.1 %

The company’s fifty day moving average price is $21.01. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate 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.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Amentum

A number of large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Amentum in the third quarter valued at about $790,000. Wharton Business Group LLC purchased a new stake in Amentum in the 3rd quarter valued at approximately $2,106,000. JPMorgan Chase & Co. acquired a new stake in Amentum during the 3rd quarter valued at $8,739,000. Peak Asset Management LLC purchased a new position in Amentum during the third quarter worth $774,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Amentum in the fourth quarter worth $409,000. 39.93% of the stock is owned by institutional investors and hedge funds.

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.