Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC increased its stake in Iron Mountain by 17.7%, owning over 2 million shares, making it the 19th largest position in their portfolio.
• A total of 240,007 shares worth approximately $23.5 million have been sold by insiders in the last three months, including significant sales by CEO William L. Meaney and EVP Greg W. Mcintosh.
• The stock has a market cap of $28.22 billion and analysts have a consensus target price of $122.00, with most rating the company as a "buy".

Centersquare Investment Management LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,008,437 shares of the financial services provider's stock after buying an additional 302,185 shares during the quarter. Iron Mountain makes up approximately 1.8% of Centersquare Investment Management LLC's portfolio, making the stock its 19th biggest position. Centersquare Investment Management LLC owned 0.68% of Iron Mountain worth $172,806,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Ranch Capital Advisors Inc. raised its holdings in Iron Mountain by 3.4% in the first quarter. Ranch Capital Advisors Inc. now owns 34,199 shares of the financial services provider's stock valued at $2,963,000 after acquiring an additional 1,136 shares in the last quarter. American Assets Investment Management LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $4,921,000. New Age Alpha Advisors LLC raised its holdings in Iron Mountain by 73.2% in the first quarter. New Age Alpha Advisors LLC now owns 96,521 shares of the financial services provider's stock valued at $8,305,000 after acquiring an additional 40,793 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Iron Mountain by 1,281.5% during the first quarter. Strategic Investment Solutions Inc. IL now owns 2,763 shares of the financial services provider's stock worth $238,000 after purchasing an additional 2,563 shares during the last quarter. Finally, Raiffeisen Bank International AG lifted its stake in Iron Mountain by 28.9% during the first quarter. Raiffeisen Bank International AG now owns 49,170 shares of the financial services provider's stock worth $4,184,000 after purchasing an additional 11,027 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares of the company's stock, valued at $3,544,600. This trade represents a 32.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,007 shares of company stock worth $23,543,507 in the last three months. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 0.9%

Shares of NYSE IRM opened at $95.65 on Wednesday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock has a 50 day moving average of $99.92 and a two-hundred day moving average of $95.05. The stock has a market cap of $28.22 billion, a P/E ratio of 233.29 and a beta of 1.07.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IRM shares. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. Barclays boosted their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $122.00.

Iron Mountain Company 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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