Y Intercept Hong Kong Ltd Acquires 20,376 Shares of Iron Mountain Incorporated (NYSE:IRM)

Y Intercept Hong Kong Ltd lifted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 73.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,980 shares of the financial services provider's stock after purchasing an additional 20,376 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Iron Mountain were worth $4,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of IRM. Cranbrook Wealth Management LLC purchased a new position in shares of Iron Mountain in the 1st quarter worth about $26,000. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain in the 1st quarter worth about $30,000. Wayfinding Financial LLC purchased a new position in shares of Iron Mountain in the 1st quarter worth about $37,000. Franchise Capital Ltd purchased a new position in Iron Mountain in the 1st quarter worth about $39,000. Finally, Crewe Advisors LLC raised its position in Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

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

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.12 during midday trading on Friday, hitting $98.89. 174,956 shares of the company's stock traded hands, compared to its average volume of 1,860,552. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market capitalization of $29.18 billion, a price-to-earnings ratio of 241.19 and a beta of 1.08. The firm has a fifty day moving average of $100.07 and a 200 day moving average of $95.52.

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

Iron Mountain Announces Dividend

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

Insider Buying and Selling

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the business'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 transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president directly owned 35,446 shares in the company, valued at approximately $3,544,600. The trade was a 32.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 approximately $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,007 shares of company stock valued at $23,649,959. Insiders own 1.90% of the company's stock.

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.