Blair William & Co. IL Sells 3,984 Shares of Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Blair William & Co. IL reduced its stake in Iron Mountain by 1.2%, selling 3,984 shares during the first quarter, leaving them with a total of 330,538 shares valued at approximately $28.44 million.
• Iron Mountain's shares recently received upgrades from various brokerages, including Barclays raising their price target from $118 to $121 and a "buy" rating from Truist Financial with a target of $95.
• Iron Mountain reported $1.17 earnings per share for its last quarter, exceeding estimates, with revenue also aligning with expectations at $1.59 billion.

Blair William & Co. IL cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 330,538 shares of the financial services provider's stock after selling 3,984 shares during the period. Blair William & Co. IL owned 0.11% of Iron Mountain worth $28,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its holdings in Iron Mountain by 14.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock worth $1,251,000 after buying an additional 1,860 shares during the period. Golden State Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter worth approximately $30,000. Assenagon Asset Management S.A. boosted its holdings in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock worth $993,000 after buying an additional 388 shares during the period. Miracle Mile Advisors LLC boosted its holdings in Iron Mountain by 134.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock valued at $649,000 after purchasing an additional 4,330 shares during the period. Finally, Sowell Financial Services LLC bought a new position in Iron Mountain in the 1st quarter valued at $285,000. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on IRM. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays raised their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $122.00.

Insider Activity at Iron Mountain

In other news, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the sale, the director owned 36,515 shares in the company, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,882 shares of company stock worth $17,007,738. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $94.08 on Monday. The firm's fifty day moving average price is $99.98 and its 200-day moving average price is $95.15. The stock has a market cap of $27.76 billion, a P/E ratio of 229.46 and a beta of 1.07. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.10 EPS. On average, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain 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.

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