Private Advisor Group LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 23.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,929 shares of the financial services provider’s stock after selling 2,443 shares during the quarter. Private Advisor Group LLC’s holdings in Iron Mountain were worth $265,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Creative Planning raised its position in shares of Iron Mountain by 4.6% in the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 134 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Iron Mountain by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 121 shares during the last quarter. Soros Fund Management LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at approximately $203,000. Penserra Capital Management LLC raised its position in shares of Iron Mountain by 7.5% in the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Iron Mountain in the 1st quarter valued at approximately $209,000. 87.46% of the stock is owned by hedge funds and other institutional investors.
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In other news, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.02, for a total value of $841,900.74. Following the transaction, the executive vice president now owns 62,379 shares of the company’s stock, valued at $2,496,407.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 50,888 shares of company stock worth $1,976,840. Corporate insiders own 1.50% of the company’s stock.
Shares of Iron Mountain Incorporated (IRM) opened at 39.72 on Thursday. The firm has a market cap of $10.50 billion, a PE ratio of 54.49 and a beta of 0.92. Iron Mountain Incorporated has a 52 week low of $30.75 and a 52 week high of $40.44. The stock’s 50 day moving average is $38.47 and its 200-day moving average is $35.80.
Iron Mountain (NYSE:IRM) last released its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, equities analysts predict that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date is Thursday, September 14th. Iron Mountain’s payout ratio is currently 297.30%.
Several equities analysts recently weighed in on the stock. BidaskClub downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Deutsche Bank AG downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating and cut their price target for the stock from $41.00 to $30.00 in a report on Wednesday, June 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of Iron Mountain in a report on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 price target on shares of Iron Mountain and gave the stock a “hold” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Iron Mountain presently has a consensus rating of “Hold” and a consensus target price of $36.50.
About Iron Mountain
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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