Amentum (NYSE:AMTM) Hits New 52-Week Low - Here's What Happened

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $16.01 and last traded at $17.97, with a volume of 3676930 shares. The stock had previously closed at $16.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMTM shares. BTIG Research initiated coverage on shares of Amentum in a research report on Tuesday. They set a "buy" rating and a $30.00 target price for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price objective on shares of Amentum in a research report on Thursday, February 6th. The Goldman Sachs Group assumed coverage on Amentum in a research report on Thursday, March 20th. They set a "neutral" rating and a $21.00 target price for the company. Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a research note on Tuesday, February 25th. Finally, Truist Financial lowered their price target on shares of Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a report on Monday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Amentum presently has an average rating of "Moderate Buy" and an average price target of $25.67.

Amentum Stock Up 2.0 %

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 fifty day moving average of $19.03.

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

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Insider Buying and Selling at Amentum

In other Amentum news, Director Barbara Loughran bought 4,600 shares of Amentum stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $21.23 per share, with a total value of $97,658.00. Following the acquisition, the director now owns 4,600 shares in the company, valued at approximately $97,658. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven J. Demetriou acquired 100,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was bought at an average price of $20.81 per share, for a total transaction of $2,081,000.00. Following the acquisition, the insider now owns 620,893 shares of the company's stock, valued at approximately $12,920,783.33. This trade represents a 19.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.67% of the company's stock.

Hedge Funds Weigh In On Amentum

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of Amentum by 78.8% in the first quarter. GAMMA Investing LLC now owns 3,137 shares of the company's stock valued at $57,000 after acquiring an additional 1,383 shares during the period. Rhumbline Advisers grew its stake in Amentum by 5.1% in the first quarter. Rhumbline Advisers now owns 310,103 shares of the company's stock worth $5,644,000 after purchasing an additional 14,919 shares during the period. Cacti Asset Management LLC raised its holdings in Amentum by 1.2% in the first quarter. Cacti Asset Management LLC now owns 834,442 shares of the company's stock worth $15,078,000 after purchasing an additional 9,978 shares in the last quarter. Wellington Management Group LLP lifted its position in Amentum by 149.5% during the fourth quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company's stock valued at $49,068,000 after buying an additional 1,398,143 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Amentum during the 4th quarter valued at $676,000. 39.93% of the stock is owned by hedge funds and other institutional investors.

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.