State of Alaska Department of Revenue Purchases 8,898 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

State of Alaska Department of Revenue grew its position in Amentum Holdings, Inc. (NYSE:AMTM) by 12.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 79,345 shares of the company’s stock after purchasing an additional 8,898 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amentum were worth $1,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC increased its holdings in shares of Amentum by 380.0% in the 1st quarter. FNY Investment Advisers LLC now owns 2,400 shares of the company’s stock worth $43,000 after purchasing an additional 1,900 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Amentum in the 1st quarter worth $615,000. ABS Direct Equity Fund LLC bought a new stake in shares of Amentum in the 1st quarter worth $592,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Amentum by 32.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 151,801 shares of the company’s stock worth $2,763,000 after purchasing an additional 37,057 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Amentum by 78.8% in the 1st quarter. GAMMA Investing LLC now owns 3,137 shares of the company’s stock worth $57,000 after purchasing an additional 1,383 shares in the last quarter. Institutional investors own 39.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMTM. Truist Financial cut their price objective on Amentum from $31.00 to $24.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank Of Canada set a $24.00 price objective on Amentum and gave the stock a “sector perform” rating in a report on Wednesday, May 21st. Cantor Fitzgerald raised Amentum to a “hold” rating in a report on Tuesday, February 25th. Bank of America began coverage on Amentum in a report on Tuesday, June 10th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Morgan Stanley began coverage on Amentum in a report on Wednesday, April 16th. They issued an “underweight” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.22.

Amentum Trading Up 2.0%

NYSE:AMTM opened at $22.34 on Wednesday. The stock has a 50-day simple moving average of $21.31 and a two-hundred day simple moving average of $20.63. Amentum Holdings, Inc. has a 52-week low of $16.01 and a 52-week high of $34.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.56 and a quick ratio of 1.56.

Amentum (NYSE:AMTM) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. On average, sell-side analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

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.