Amentum (NYSE:AMTM) Trading 8.3% Higher – Here’s Why

Amentum Holdings, Inc. (NYSE:AMTM)’s share price traded up 8.3% on Friday . The company 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.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price target on shares of Amentum in a research report on Thursday, February 6th. Finally, Raymond James assumed coverage on shares of Amentum in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target for the company.

Amentum Price Performance

The firm’s 50 day moving average price is $21.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current 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, beating analysts’ consensus estimates of $0.45 by $0.06. Sell-side analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In other Amentum news, insider Steven J. Demetriou acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were purchased at an average price of $20.81 per share, for a total transaction of $2,081,000.00. Following the completion of the purchase, the insider now directly owns 620,893 shares in the company, valued at $12,920,783.33. The trade was 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 purchased 4,600 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $21.23 per share, for a total transaction of $97,658.00. Following the purchase, the director now directly owns 4,600 shares of the company’s stock, valued at $97,658. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 18.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amentum

Large investors have recently made changes to their positions in the company. Arrow Financial Corp bought a new position in shares of Amentum in the third quarter valued at approximately $26,000. US Bancorp DE bought a new position in shares of Amentum in the third quarter valued at approximately $30,000. Huntington National Bank bought a new position in shares of Amentum in the fourth quarter valued at approximately $30,000. Anchor Investment Management LLC bought a new position in shares of Amentum in the third quarter valued at approximately $32,000. Finally, Glen Eagle Advisors LLC bought a new position in shares of Amentum in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 39.93% of the company’s stock.

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.