New Age Alpha Advisors LLC Has $8.31 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in Iron Mountain Incorporated by 73.2%, now holding approximately $8.31 million worth of shares after acquiring an additional 40,793 shares.
• Several institutional investors have also boosted their positions in Iron Mountain, with Point72 Asset Management L.P. increasing its stake by 439.8% during the 4th quarter, now owning over $126 million worth of shares.
• The stock's current market capitalization is $27.95 billion, with a price-to-earnings ratio of 231.09, reflecting significant investor interest despite recent sales by executives and fluctuations in stock price.

New Age Alpha Advisors LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 73.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,521 shares of the financial services provider's stock after buying an additional 40,793 shares during the quarter. New Age Alpha Advisors LLC's holdings in Iron Mountain were worth $8,305,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IRM. Northern Trust Corp boosted its holdings in shares of Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after buying an additional 1,554,746 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Iron Mountain by 439.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after buying an additional 978,251 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Iron Mountain by 39.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock valued at $267,922,000 after acquiring an additional 715,024 shares during the period. Principal Financial Group Inc. raised its stake in Iron Mountain by 117.7% in the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock valued at $77,796,000 after acquiring an additional 488,816 shares during the period. Finally, Adelante Capital Management LLC raised its stake in Iron Mountain by 1,403.5% in the 4th quarter. Adelante Capital Management LLC now owns 445,897 shares of the financial services provider's stock valued at $46,868,000 after acquiring an additional 416,239 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Price Performance

IRM stock opened at $94.75 on Tuesday. The stock has a market capitalization of $27.95 billion, a price-to-earnings ratio of 231.09 and a beta of 1.07. The business's fifty day moving average price is $99.95 and its two-hundred day moving average price is $95.05. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the transaction, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction 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 transaction, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 170,882 shares of company stock worth $17,007,738 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IRM shares. Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $122.00.

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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