MGO One Seven LLC Purchases 13,438 Shares of Iron Mountain Incorporated (NYSE:IRM)

MGO One Seven LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 121.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,530 shares of the financial services provider's stock after purchasing an additional 13,438 shares during the period. MGO One Seven LLC's holdings in Iron Mountain were worth $2,578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its holdings in Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after acquiring an additional 100 shares during the period. Premier Path Wealth Partners LLC increased its holdings in Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after acquiring an additional 106 shares during the period. Belpointe Asset Management LLC increased its holdings in Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after acquiring an additional 112 shares during the period. Mather Group LLC. increased its holdings in Iron Mountain by 4.6% during the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock worth $271,000 after acquiring an additional 113 shares during the period. Finally, One Charles Private Wealth Services LLC increased its holdings in Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock worth $1,236,000 after acquiring an additional 119 shares during the period. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 0.3 %

NYSE IRM traded up $0.30 during trading on Tuesday, hitting $88.77. The company had a trading volume of 419,415 shares, compared to its average volume of 1,829,535. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 145.49, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The company's fifty day moving average is $85.99 and its 200-day moving average is $102.82.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.52 earnings per share. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.54%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is presently 514.75%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company's stock, 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 SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by company insiders.

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.