Amentum (NYSE:AMTM) Sees Strong Trading Volume – Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM) shares saw unusually-high trading volume on Wednesday . Approximately 3,296,768 shares changed hands during 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 subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of Amentum in a research report on Thursday, February 6th. Raymond James started coverage on Amentum in a report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Cantor Fitzgerald upgraded Amentum to a “hold” rating in a report on Tuesday, February 25th.

Amentum Stock 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 stock has a 50-day moving average of $21.01.

Amentum (NYSE:AMTM) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Equities research analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Barbara Loughran purchased 4,600 shares of Amentum stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now owns 4,600 shares of the company’s stock, valued at approximately $97,658. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven J. Demetriou purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was bought at an average price of $20.81 per share, with a total value of $2,081,000.00. Following 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 disclosure for this purchase can be found here. 18.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amentum

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Amentum during the fourth quarter worth about $676,000. Jefferies Financial Group Inc. purchased a new stake in Amentum during the 4th quarter worth approximately $249,000. Shufro Rose & Co. LLC acquired a new position in shares of Amentum in the 4th quarter valued at approximately $287,000. Public Employees Retirement System of Ohio purchased a new position in shares of Amentum during the 4th quarter valued at approximately $938,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Amentum during the fourth quarter worth approximately $526,000. 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.