Iron Mountain Incorporated $IRM Stock: ProShare Advisors LLC Grows Stake

ProShare Advisors LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,026 shares of the financial services provider’s stock after purchasing an additional 5,685 shares during the quarter. ProShare Advisors LLC’s holdings in Iron Mountain were worth $6,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Iron Mountain in the second quarter valued at $4,240,342,000. Principal Financial Group Inc. boosted its stake in shares of Iron Mountain by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock worth $466,382,000 after acquiring an additional 358,497 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Iron Mountain by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock worth $464,931,000 after acquiring an additional 122,927 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Iron Mountain in the 2nd quarter worth $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Iron Mountain by 29,674.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock worth $403,379,000 after purchasing an additional 3,182,834 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, EVP Greg McIntosh sold 5,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $116.96, for a total transaction of $584,800.00. Following the transaction, the executive vice president owned 65,634 shares in the company, valued at approximately $7,676,552.64. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 142,422 shares of company stock worth $16,465,899 in the last 90 days. 1.70% of the stock is owned by insiders.

Iron Mountain Price Performance

Shares of IRM opened at $118.99 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The company has a market capitalization of $35.42 billion, a price-to-earnings ratio of 85.00 and a beta of 1.18. The business’s 50-day moving average is $114.40 and its 200-day moving average is $115.26.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IRM. Rothschild & Co Redburn assumed coverage on Iron Mountain in a research report on Monday, September 21st. They issued a “buy” rating and a $132.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $153.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. BNP Paribas Exane raised their target price on shares of Iron Mountain from $138.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Jefferies Financial Group cut their price target on shares of Iron Mountain from $147.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus price target of $143.89.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.