MGO One Seven LLC Has $491,000 Position in Iron Mountain Incorporated $IRM

MGO One Seven LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 68.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,784 shares of the financial services provider’s stock after buying an additional 1,946 shares during the period. MGO One Seven LLC’s holdings in Iron Mountain were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Iron Mountain in the first quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain in the first quarter valued at about $30,000. Ramirez Asset Management Inc. bought a new stake in shares of Iron Mountain in the first quarter valued at about $34,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain in the first quarter valued at about $37,000. Finally, Crewe Advisors LLC boosted its position in shares of Iron Mountain by 10,000.0% in the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 500 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Down 1.1%

IRM opened at $104.60 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company has a 50-day simple moving average of $97.67 and a 200 day simple moving average of $96.01. The stock has a market capitalization of $30.89 billion, a price-to-earnings ratio of 747.20 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. Iron Mountain’s dividend payout ratio is 2,242.86%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRM. Zacks Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Barclays upped their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.