Private Advisor Group LLC Has $8.55 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Private Advisor Group LLC raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,362 shares of the financial services provider's stock after buying an additional 4,282 shares during the period. Private Advisor Group LLC's holdings in Iron Mountain were worth $8,549,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth $26,000. Golden State Wealth Management LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new stake in Iron Mountain during the first quarter valued at approximately $37,000. Franchise Capital Ltd purchased a new stake in shares of Iron Mountain in the first quarter worth $39,000. Finally, Crewe Advisors LLC boosted its position in shares of Iron Mountain by 10,000.0% during the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insiders Place Their Bets

In related news, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director owned 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,007 shares of company stock worth $23,649,959. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Trading Down 0.6%

IRM traded down $0.57 during midday trading on Thursday, hitting $98.81. The company's stock had a trading volume of 151,722 shares, compared to its average volume of 1,867,973. The firm has a 50-day moving average price of $100.03 and a two-hundred day moving average price of $95.52. The firm has a market cap of $29.15 billion, a P/E ratio of 241.73 and a beta of 1.08. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

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

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, June 16th. Iron Mountain's dividend payout ratio is 765.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IRM shares. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Finally, Barclays boosted their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of "Buy" and an average target price of $121.71.

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.