Phoenix Financial Ltd. Invests $398,000 in Amentum Holdings, Inc. (NYSE:AMTM)

Phoenix Financial Ltd. bought a new stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,932 shares of the company's stock, valued at approximately $398,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Amentum in the 3rd quarter worth about $790,000. JPMorgan Chase & Co. bought a new stake in Amentum in the third quarter worth about $8,739,000. Foundations Investment Advisors LLC purchased a new position in shares of Amentum during the fourth quarter valued at approximately $409,000. A. D. Beadell Investment Counsel Inc. grew its stake in shares of Amentum by 177.0% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 43,155 shares of the company's stock valued at $907,000 after buying an additional 27,575 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Amentum in the third quarter worth approximately $6,840,000. Hedge funds and other institutional investors own 39.93% of the company's stock.

Amentum Stock Down 0.3 %

Shares of NYSE:AMTM traded down $0.05 during trading on Wednesday, reaching $18.71. The stock had a trading volume of 2,241,742 shares, compared to its average volume of 2,883,993. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a 50-day moving average of $18.95. Amentum Holdings, Inc. has a one year low of $16.01 and a one year high of $34.47.

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Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings results 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. On average, equities analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Activity at Amentum

In related news, insider Steven J. Demetriou purchased 100,000 shares of the firm's stock in a transaction 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 owns 620,893 shares in the company, valued at approximately $12,920,783.33. This represents a 19.20 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barbara Loughran acquired 4,600 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $21.23 per share, for a total transaction of $97,658.00. Following the completion of the acquisition, the director now directly owns 4,600 shares of the company's stock, valued at approximately $97,658. The trade was 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial decreased their target price on Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a research report on Monday. 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 target price on shares of Amentum in a research report on Thursday, February 6th. The Goldman Sachs Group initiated coverage on shares of Amentum in a report on Thursday, March 20th. They set a "neutral" rating and a $21.00 target price on the stock. Finally, BTIG Research initiated coverage on shares of Amentum in a research report on Tuesday. They issued a "buy" rating and a $30.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Amentum currently has an average rating of "Hold" and an average target price of $24.71.

Amentum 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.