Amentum (NYSE:AMTM) Shares Gap Up – Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $19.80, but opened at $20.99. Amentum shares last traded at $20.95, with a volume of 330,189 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on AMTM. Cantor Fitzgerald began coverage on shares of Amentum in a research report on Friday, February 7th. They issued a “neutral” rating and a $25.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of Amentum in a research report on Thursday, February 6th. Finally, Raymond James began coverage on shares of Amentum in a research report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price for the company.

Amentum Price Performance

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02. The business’s 50 day moving average is $21.49.

Amentum (NYSE:AMTM) last posted its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Equities research analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling at Amentum

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

Hedge Funds Weigh In On Amentum

A number of institutional investors and hedge funds have recently bought and sold shares of AMTM. Kovitz Investment Group Partners LLC increased its position in 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 acquiring an additional 14,652,319 shares during the period. State Street Corp bought a new position in Amentum during the third quarter worth $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 acquiring an additional 6,055,638 shares during the period. Primecap Management Co. CA bought a new position in Amentum during the third quarter worth $169,999,000. Finally, Cooper Creek Partners Management LLC increased its position in Amentum by 396.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company’s stock worth $87,422,000 after acquiring an additional 3,319,364 shares during the period. Institutional investors own 39.93% of the company’s stock.

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.