Amentum (NYSE:AMTM) Shares Gap Up – Still a Buy?

Amentum Holdings, Inc. (NYSE:AMTM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $19.80, but opened at $20.99. Amentum shares last traded at $20.95, with a volume of 330,189 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. Raymond James began coverage on shares of Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on shares of Amentum in a research note on Friday, February 7th. They issued a “neutral” rating and a $25.00 target price on the stock.

Amentum Stock Down 2.3 %

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 company’s 50 day simple moving average is $21.49.

Amentum (NYSE:AMTM) last issued 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. Sell-side analysts expect that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven J. Demetriou purchased 100,000 shares of Amentum stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average price of $20.81 per share, for a total transaction of $2,081,000.00. Following the transaction, the insider now directly owns 620,893 shares in the company, valued at approximately $12,920,783.33. This represents a 19.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Barbara Loughran purchased 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, for a total transaction of $97,658.00. Following the transaction, the director now 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 owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMTM. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Amentum during the 3rd quarter valued at about $414,000. Stratos Wealth Advisors LLC acquired a new position in Amentum during the 3rd quarter valued at about $282,000. Signaturefd LLC acquired a new position in Amentum during the 3rd quarter valued at about $33,000. Eastern Bank acquired a new position in Amentum during the 3rd quarter valued at about $3,325,000. Finally, Private Advisor Group LLC acquired a new position in Amentum during the 3rd quarter valued at about $433,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

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.