Jump Financial LLC Raises Stake in Iron Mountain Incorporated (NYSE:IRM)

Jump Financial LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 764.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,486 shares of the financial services provider's stock after buying an additional 32,266 shares during the period. Jump Financial LLC's holdings in Iron Mountain were worth $3,835,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc increased its position in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IRM has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $121.29.

Iron Mountain Price Performance

NYSE IRM traded up $1.65 during trading hours on Tuesday, reaching $83.26. 285,716 shares of the stock traded hands, compared to its average volume of 1,821,166. The stock has a 50 day simple moving average of $86.86 and a two-hundred day simple moving average of $103.98. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 136.46, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the company earned $0.52 EPS. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

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.