Investors Buy Large Volume of Call Options on Amentum (NYSE:AMTM)

Amentum Holdings, Inc. (NYSE:AMTM) was the target of some unusual options trading on Tuesday. Traders bought 11,482 call options on the company. This is an increase of approximately 227% compared to the typical volume of 3,516 call options.

Institutional Trading of Amentum

A number of institutional investors and hedge funds have recently bought and sold shares of AMTM. State Street Corp bought a new stake in shares of Amentum in the 3rd quarter valued at about $236,306,000. Primecap Management Co. CA acquired a new position in shares of Amentum in the third quarter worth approximately $169,999,000. Geode Capital Management LLC bought a new stake in Amentum in the third quarter valued at approximately $101,022,000. Ruane Cunniff & Goldfarb L.P. acquired a new stake in Amentum during the 3rd quarter valued at approximately $81,608,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Amentum during the 3rd quarter worth approximately $78,399,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMTM. Truist Financial started coverage on shares of Amentum in a research report on Monday, October 14th. They issued a “buy” rating and a $31.00 target price for the company. Royal Bank of Canada initiated coverage on Amentum in a research note on Friday, January 10th. They set a “sector perform” rating and a $24.00 target price for the company. Finally, Raymond James started coverage on Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target on the stock.

Amentum Stock Performance

NYSE:AMTM opened at $23.22 on Wednesday. Amentum has a one year low of $18.38 and a one year high of $34.50. The stock’s 50 day simple moving average is $23.70.

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.