Virtu Financial LLC Invests $490,000 in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Virtu Financial LLC has acquired 5,695 shares of Iron Mountain Incorporated, valued at approximately $490,000, as disclosed in their recent 13F filing.
• Analyst ratings on Iron Mountain show a consensus "Buy" rating with an average target price of $120.00, despite a recent price objective reduction by JPMorgan Chase & Co. from $112.00 to $100.00.
• The company recently declared a quarterly dividend of $0.785, translating to an annualized yield of 3.3%, despite a very high payout ratio of 2,242.86%.

Virtu Financial LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,695 shares of the financial services provider's stock, valued at approximately $490,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its stake in Iron Mountain by 14.7% in 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 purchasing an additional 1,860 shares during the period. Golden State Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter worth approximately $30,000. Assenagon Asset Management S.A. boosted its stake in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock worth $993,000 after purchasing an additional 388 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Iron Mountain by 134.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock worth $649,000 after acquiring an additional 4,330 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth approximately $285,000. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the transaction, the executive vice president owned 91,081 shares of the company's stock, valued at $9,292,083.62. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the transaction, the director directly owned 36,515 shares in the company, valued at $3,650,404.55. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,007 shares of company stock worth $23,543,507. Insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 0.1%

NYSE:IRM traded up $0.07 during midday trading on Friday, hitting $91.47. 1,159,811 shares of the company traded hands, compared to its average volume of 1,454,023. The firm's fifty day moving average is $98.61 and its 200-day moving average is $94.19. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market capitalization of $27.02 billion, a P/E ratio of 653.40 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%. Iron Mountain's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. Barclays upped their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $120.00.

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.