Rangeley Capital LLC Takes Position in Amentum Holdings, Inc. (NYSE:AMTM)

Rangeley Capital LLC bought a new stake in shares of Amentum Holdings, Inc. (NYSE:AMTM) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 47,000 shares of the company’s stock, valued at approximately $988,000.

A number of other institutional investors also recently made changes to their positions in AMTM. Vanguard Group Inc. grew its holdings in shares of Amentum by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company’s stock worth $347,888,000 after purchasing an additional 2,529,173 shares during the period. State Street Corp purchased a new stake in Amentum during the third quarter worth approximately $236,306,000. Primecap Management Co. CA raised its stake in shares of Amentum by 21.7% in the 4th quarter. Primecap Management Co. CA now owns 6,414,379 shares of the company’s stock valued at $134,894,000 after acquiring an additional 1,143,097 shares during the period. Geode Capital Management LLC purchased a new stake in Amentum during the 3rd quarter worth $101,022,000. Finally, Wellington Management Group LLP boosted its position in Amentum by 149.5% during the 4th quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company’s stock worth $49,068,000 after purchasing an additional 1,398,143 shares during the period. 39.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AMTM shares. The Goldman Sachs Group began coverage on Amentum in a research report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of Amentum in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Amentum currently has a consensus rating of “Hold” and a consensus target price of $26.20.

Amentum Price Performance

Shares of NYSE:AMTM opened at $19.73 on Thursday. Amentum Holdings, Inc. has a 1-year low of $16.95 and a 1-year high of $34.47. The business’s fifty day simple moving average is $19.70. 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 posted its earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. Equities analysts predict that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Amentum

In related news, insider Steven J. Demetriou acquired 100,000 shares of Amentum stock in a transaction that occurred on Wednesday, February 12th. The stock was acquired 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 directly owns 620,893 shares of the company’s stock, valued at $12,920,783.33. This trade represents a 19.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara Loughran bought 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 $97,658. This represents a ∞ 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 company insiders.

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.