Seven Grand Managers LLC Acquires New Position in Amentum Holdings, Inc. (NYSE:AMTM)

Seven Grand Managers LLC acquired a new stake in shares of Amentum Holdings, Inc. (NYSE:AMTM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,820,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rock Creek Group LP bought a new position in Amentum in the 1st quarter valued at approximately $455,000. Russell Investments Group Ltd. lifted its position in Amentum by 85.5% in the 1st quarter. Russell Investments Group Ltd. now owns 232,933 shares of the company’s stock valued at $4,239,000 after acquiring an additional 107,395 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Amentum by 47.2% in the 1st quarter. Public Sector Pension Investment Board now owns 455,129 shares of the company’s stock valued at $8,283,000 after acquiring an additional 145,943 shares in the last quarter. Nuveen LLC bought a new position in Amentum in the 1st quarter valued at approximately $5,238,000. Finally, Invesco Ltd. lifted its holdings in shares of Amentum by 24.1% during the 1st quarter. Invesco Ltd. now owns 17,191,110 shares of the company’s stock valued at $312,878,000 after buying an additional 3,334,871 shares during the period. 39.93% of the stock is owned by institutional investors.

Amentum Stock Down 4.1%

Shares of NYSE AMTM opened at $25.44 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $6.19 billion and a P/E ratio of 65.22. Amentum Holdings, Inc. has a 1 year low of $16.01 and a 1 year high of $34.50. The firm has a 50-day simple moving average of $24.09 and a two-hundred day simple moving average of $21.33.

Amentum (NYSE:AMTM) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The business’s revenue was up 66.2% on a year-over-year basis. Research analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMTM. The Goldman Sachs Group upped their price target on shares of Amentum from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada increased their price target on Amentum from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Bank of America increased their price target on Amentum from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citizens Jmp assumed coverage on Amentum in a research note on Monday, May 12th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Truist Financial raised their price objective on Amentum from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Amentum presently has a consensus rating of “Hold” and a consensus target price of $27.00.

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.