Iron Mountain Incorporated $IRM Stock Holdings Lifted by Jump Financial LLC

Key Points

• Jump Financial LLC significantly increased its stake in Iron Mountain Incorporated by 725.6%, owning over $25.9 million worth of shares after acquiring an additional 264,727 shares in Q1.
• Insider trading activity shows EVP Greg W. Mcintosh sold 17,334 shares for approximately $1.73 million, marking a 32.84% reduction in ownership, while a total of 231,609 shares have been sold by insiders recently.
• Brokerages have mixed views on Iron Mountain, with Barclays raising its price target to $122 and JPMorgan Chase lowering it to $100, reflecting an average price target of $120.17 among analysts.

Jump Financial LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 725.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,213 shares of the financial services provider's stock after acquiring an additional 264,727 shares during the quarter. Jump Financial LLC owned about 0.10% of Iron Mountain worth $25,916,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its stake in Iron Mountain by 14.7% during 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 acquiring an additional 1,860 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Iron Mountain in the first quarter valued at $30,000. Inspire Trust Co. N.A. increased its stake in Iron Mountain by 21.4% in the first quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider's stock valued at $1,463,000 after purchasing an additional 3,000 shares during the period. HighTower Advisors LLC increased its stake in Iron Mountain by 76.7% in the first quarter. HighTower Advisors LLC now owns 109,124 shares of the financial services provider's stock valued at $9,389,000 after purchasing an additional 47,380 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Iron Mountain by 3.5% in the first quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock valued at $993,000 after purchasing an additional 388 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the sale, the executive vice president directly owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 231,609 shares of company stock worth $22,736,123 over the last three months. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Down 0.6%

Shares of IRM traded down $0.52 on Thursday, hitting $91.36. 217,318 shares of the stock traded hands, compared to its average volume of 1,798,353. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock's 50 day moving average is $96.98 and its two-hundred day moving average is $93.62. The firm has a market capitalization of $26.98 billion, a P/E ratio of 651.87 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. Iron Mountain's revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a $0.785 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. Iron Mountain's dividend payout ratio is presently 2,242.86%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays lifted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $120.17.

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.