Exchange Traded Concepts LLC Acquires 264,162 Shares of Amentum Holdings, Inc. $AMTM

Exchange Traded Concepts LLC grew its holdings in shares of Amentum Holdings, Inc. (NYSE:AMTM) by 7,928.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 267,494 shares of the company’s stock after purchasing an additional 264,162 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Amentum were worth $6,406,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wesbanco Bank Inc. increased its stake in shares of Amentum by 1.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 24,466 shares of the company’s stock valued at $578,000 after acquiring an additional 416 shares in the last quarter. Intact Investment Management Inc. grew its holdings in Amentum by 6.1% in the second quarter. Intact Investment Management Inc. now owns 7,319 shares of the company’s stock worth $173,000 after purchasing an additional 419 shares during the period. UMB Bank n.a. increased its stake in Amentum by 11.6% in the second quarter. UMB Bank n.a. now owns 4,121 shares of the company’s stock valued at $97,000 after purchasing an additional 430 shares in the last quarter. MAI Capital Management raised its holdings in shares of Amentum by 12.3% during the second quarter. MAI Capital Management now owns 4,259 shares of the company’s stock valued at $101,000 after purchasing an additional 468 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Amentum by 27.0% during the second quarter. Signaturefd LLC now owns 2,241 shares of the company’s stock valued at $53,000 after purchasing an additional 477 shares during the period. Institutional investors and hedge funds own 39.93% of the company’s stock.

Amentum Stock Down 1.4%

Shares of NYSE:AMTM opened at $29.44 on Wednesday. The business’s 50 day moving average is $25.41 and its 200 day moving average is $24.56. Amentum Holdings, Inc. has a 12-month low of $16.01 and a 12-month high of $31.87. The stock has a market cap of $7.17 billion and a price-to-earnings ratio of 109.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.84.

Amentum (NYSE:AMTM) last issued its quarterly earnings data on Monday, November 24th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Amentum had a return on equity of 11.57% and a net margin of 0.46%.Amentum’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their target price on Amentum from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. JMP Securities set a $35.00 price target on Amentum in a report on Wednesday, November 26th. JPMorgan Chase & Co. raised their price objective on Amentum from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Royal Bank Of Canada upped their target price on Amentum from $26.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 26th. Finally, Morgan Stanley upgraded Amentum from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $20.00 to $35.00 in a report on Wednesday, November 26th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amentum has an average rating of “Moderate Buy” and an average target price of $32.17.

Amentum Company Profile

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.