Exchange Traded Concepts LLC Has $6.41 Million Stake in Amentum Holdings, Inc. $AMTM

Exchange Traded Concepts LLC raised its stake in Amentum Holdings, Inc. (NYSE:AMTM) by 7,928.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,494 shares of the company’s stock after acquiring an additional 264,162 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.11% of Amentum worth $6,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp bought a new position in Amentum in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Amentum by 1,517.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,520 shares of the company’s stock worth $36,000 after buying an additional 1,426 shares in the last quarter. Quarry LP bought a new position in shares of Amentum in the 1st quarter valued at $30,000. Smartleaf Asset Management LLC boosted its holdings in shares of Amentum by 433.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,814 shares of the company’s stock valued at $43,000 after acquiring an additional 1,474 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new stake in Amentum during the 3rd quarter worth $45,000. 39.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on AMTM shares. Morgan Stanley upgraded Amentum from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $20.00 to $35.00 in a research report on Wednesday, November 26th. Citigroup reiterated an “outperform” rating on shares of Amentum in a report on Wednesday, November 26th. JMP Securities set a $35.00 target price on shares of Amentum in a report on Wednesday, November 26th. Truist Financial upped their price target on shares of Amentum from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Amentum from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.17.

Amentum Stock Down 1.4%

Shares of NYSE AMTM opened at $29.44 on Wednesday. The company’s 50 day moving average price is $25.41 and its 200-day moving average price is $24.56. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.32 and a current ratio of 1.32. Amentum Holdings, Inc. has a 52-week low of $16.01 and a 52-week high of $31.87. The company has a market capitalization of $7.17 billion and a P/E ratio of 109.04.

Amentum (NYSE:AMTM) last announced its earnings results on Monday, November 24th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.61 billion. Amentum had a net margin of 0.46% and a return on equity of 11.57%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Amentum 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.