Iron Mountain Incorporated (NYSE:IRM - Get Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 9,800,000 shares, a decrease of 6.8% from the March 15th total of 10,520,000 shares. Based on an average trading volume of 1,440,000 shares, the days-to-cover ratio is currently 6.8 days.
Insider Activity at Iron Mountain
In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares of the company's stock, valued at $3,238,393.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now directly owns 62,938 shares in the company, valued at $5,048,256.98. The disclosure for this sale can be found here. Insiders sold a total of 148,249 shares of company stock worth $11,480,926 over the last quarter. 2.20% of the stock is owned by corporate insiders.
Institutional Trading of Iron Mountain
Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in Iron Mountain by 15.1% during the 1st quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider's stock worth $137,000 after purchasing an additional 328 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Iron Mountain by 71.3% during the first quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider's stock valued at $1,028,000 after buying an additional 7,719 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Iron Mountain by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider's stock valued at $2,147,000 after purchasing an additional 2,399 shares during the period. APG Asset Management N.V. boosted its position in shares of Iron Mountain by 13.0% in the 1st quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider's stock valued at $907,000 after purchasing an additional 2,100 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in Iron Mountain by 52.8% in the 1st quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider's stock worth $419,000 after acquiring an additional 2,608 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
Iron Mountain Price Performance
NYSE:IRM traded down $0.13 during trading hours on Tuesday, hitting $74.71. The company's stock had a trading volume of 1,124,546 shares, compared to its average volume of 1,446,074. The business's 50-day moving average is $76.16 and its two-hundred day moving average is $68.42. The company has a market capitalization of $21.84 billion, a PE ratio of 118.59, a PEG ratio of 4.57 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. Iron Mountain has a 52-week low of $52.05 and a 52-week high of $82.19.
Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, research analysts anticipate that Iron Mountain will post 4.16 EPS for the current fiscal year.
Iron Mountain Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, March 14th. Iron Mountain's payout ratio is 412.70%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on IRM. TheStreet cut Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. Barclays lifted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus boosted their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Moderate Buy" and an average price target of $73.80.
Get Our Latest Analysis on Iron Mountain
About Iron Mountain
(
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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.
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