Lido Advisors LLC Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Lido Advisors LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 71.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,288 shares of the financial services provider's stock after selling 65,690 shares during the period. Lido Advisors LLC's holdings in Iron Mountain were worth $2,782,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% in the fourth 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 purchased a new stake in shares of Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the 4th quarter worth $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain in the fourth quarter worth about $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,848 shares of company stock valued at $22,470,124. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

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

Iron Mountain Price Performance

Shares of IRM stock traded down $0.14 on Tuesday, hitting $97.03. The stock had a trading volume of 387,008 shares, compared to its average volume of 1,833,142. The firm has a market capitalization of $28.62 billion, a P/E ratio of 159.07, a P/E/G ratio of 5.15 and a beta of 1.08. The company's 50 day moving average price is $86.01 and its 200-day moving average price is $101.74. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.24%. Iron Mountain's dividend payout ratio is currently 765.85%.

About Iron Mountain

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.