Why did Engine Capital Management sell its Amentum Holdings shares?

Engine Capital Management sold its entire stake in Amentum Holdings, valued at approximately $15 million, possibly due to portfolio strategy adjustments rather than a negative view of the company.

How has Amentum Holdings stock performed recently?

Amentum Holdings stock has shown strong performance, with shares up 26% over the past year, outperforming the S&P 500.

What services does Amentum Holdings provide?

Amentum Holdings provides mission-critical services including test, training, operations for missile defense, IT and engineering for defense/space, environmental remediation, and cyber solutions.

Home / Business and Economy / Engine Capital Exits Amentum Holdings: $15M Sale

Engine Capital Exits Amentum Holdings: $15M Sale

8 Dec

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Summary

Engine Capital Management sold its entire Amentum Holdings stake.
The divestment represents an estimated $15 million value change.
Amentum stock has outperformed the S&P 500 over the past year.

Engine Capital Exits Amentum Holdings: $15M Sale

Engine Capital Management, based in New York City, recently disclosed its complete sale of all shares in Amentum Holdings. This divestment, reported on November 14, involved the elimination of 635,255 shares, equating to an estimated transaction value of $15 million based on quarterly average pricing. The timing of this exit, following a period of strengthening fundamentals for Amentum, suggests a potential shift in Engine Capital's portfolio strategy.

Despite the investor's full exit, Amentum Holdings has demonstrated robust performance, with its stock price increasing by 26% over the past year, significantly outperforming the S&P 500's 13% gain. The company, a provider of mission-critical services for defense and space sectors, reported strong financial results in its recent fourth quarter, including $3.9 billion in revenue and a substantial backlog of $47.1 billion.