Amentum (NYSE:AMTM) Sees Unusually-High Trading Volume – Here’s Why

Shares of Amentum Holdings, Inc. (NYSE:AMTM) saw an uptick in trading volume on Wednesday . 3,296,768 shares traded hands during trading, an increase of 21% from the previous session’s volume of 2,713,481 shares.The stock last traded at $18.19 and had previously closed at $17.04.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMTM. Raymond James began coverage on shares of Amentum in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target on the stock. Cantor Fitzgerald raised shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of Amentum in a research report on Thursday, February 6th.

Amentum Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s 50-day moving average price is $20.95.

Amentum (NYSE:AMTM) last released its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. On average, equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Insider Buying and Selling at Amentum

In other news, insider Steven J. Demetriou bought 100,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was purchased at an average cost of $20.81 per share, for a total transaction of $2,081,000.00. Following the completion of the transaction, the insider now owns 620,893 shares of the company’s stock, valued at $12,920,783.33. This trade represents a 19.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barbara Loughran bought 4,600 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $21.23 per share, with a total value of $97,658.00. Following the completion of the transaction, 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 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

Several large investors have recently bought and sold shares of AMTM. US Bancorp DE acquired a new stake in shares of Amentum in the third quarter valued at about $30,000. Anchor Investment Management LLC acquired a new stake in Amentum during the 3rd quarter valued at approximately $32,000. Glen Eagle Advisors LLC bought a new position in Amentum during the 3rd quarter worth approximately $35,000. Studio Investment Management LLC acquired a new position in shares of Amentum in the 3rd quarter worth approximately $42,000. Finally, Huntington National Bank bought a new stake in shares of Amentum in the 4th quarter valued at $30,000. 39.93% of the stock is currently owned by 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.