42,200 Shares in Iron Mountain Incorporated $IRM Purchased by Anson Funds Management LP

Anson Funds Management LP acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 42,200 shares of the financial services provider's stock, valued at approximately $4,310,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BDFS Capital LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $340,000. Allstate Corp lifted its position in Iron Mountain by 105.1% during the fourth quarter. Allstate Corp now owns 22,427 shares of the financial services provider's stock worth $1,860,000 after buying an additional 11,492 shares in the last quarter. Stevens Capital Management LP purchased a new position in Iron Mountain during the fourth quarter worth approximately $1,262,000. Intact Investment Management Inc. boosted its stake in Iron Mountain by 103.4% during the fourth quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider's stock worth $5,939,000 after buying an additional 36,400 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in Iron Mountain by 9.7% in the 4th quarter. Tectonic Advisors LLC now owns 162,777 shares of the financial services provider's stock valued at $13,502,000 after buying an additional 14,402 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 4.0%

Shares of IRM stock opened at $120.69 on Thursday. The firm has a 50 day moving average of $125.32 and a two-hundred day moving average of $113.46. The stock has a market capitalization of $35.91 billion, a PE ratio of 132.63 and a beta of 1.19. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The company's revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. Analysts expect that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 38,474 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total value of $4,725,761.42. Following the completion of the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,725,761.42. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total transaction of $244,011.24. Following the completion of the transaction, the director directly owned 40,196 shares in the company, valued at $5,184,078.12. This trade represents a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 137,260 shares of company stock worth $17,361,672. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IRM shares. Truist Financial set a $140.00 target price on Iron Mountain in a research note on Friday, May 1st. Weiss Ratings raised shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Barclays raised their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded shares of Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Wells Fargo & Company boosted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Moderate Buy" and an average price target of $134.33.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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