Edgestream Partners L.P. Makes New Investment in Iron Mountain Incorporated $IRM

Key Points

• Edgestream Partners acquired 20,057 shares of Iron Mountain worth approximately $2.05 million, while institutional investors collectively own 80.13% of the company.
• Insiders have sold 137,260 shares valued at about $17.36 million over the past 90 days, including significant sales by CEO William L. Meaney and CAO Daniel Borges under pre-arranged trading plans.
• Analysts maintain a generally positive outlook, with Iron Mountain receiving a “Moderate Buy” consensus rating and an average price target of $134.33; the company also reported quarterly revenue growth of 21.5% year over year.

Edgestream Partners L.P. acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,057 shares of the financial services provider's stock, valued at approximately $2,049,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Garton & Associates Financial Advisors LLC acquired a new position in Iron Mountain in the fourth quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC raised its position in shares of Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock worth $29,000 after purchasing an additional 350 shares during the period. Dynamic Wealth Strategies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $31,000. Johnson Financial Group Inc. bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $32,000. Finally, Bayban bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Insiders Place Their Bets

In related news, CAO Daniel Borges sold 7,189 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $125.50, for a total value of $902,219.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total transaction of $4,725,761.42. Following the completion of the transaction, the chief executive officer owned 38,474 shares of the company's stock, valued at $4,725,761.42. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 137,260 shares of company stock valued at $17,361,672. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays upped their price objective on Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, Truist Financial set a $140.00 target price on shares of Iron Mountain in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $134.33.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $122.21 on Monday. The business's fifty day moving average price is $125.17 and its two-hundred day moving average price is $113.93. The company has a market capitalization of $36.36 billion, a P/E ratio of 134.30 and a beta of 1.20. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The company had revenue of $1.94 billion during 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 firm's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 5.4 earnings per share for the current fiscal year.

Iron Mountain 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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