Genesee Capital Advisors LLC Has $1.60 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Genesee Capital Advisors LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 17.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,483 shares of the financial services provider’s stock after selling 2,800 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Iron Mountain were worth $1,602,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IRM. State Board of Administration of Florida Retirement System increased its position in Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after buying an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after acquiring an additional 110,551 shares during the period. Friedenthal Financial acquired a new stake in shares of Iron Mountain during the 3rd quarter worth about $824,000. Hennion & Walsh Asset Management Inc. lifted its position in Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its stake in shares of Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays boosted their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Iron Mountain Trading Down 1.2 %

NYSE:IRM traded down $1.56 during trading hours on Monday, hitting $124.20. 454,811 shares of the company were exchanged, compared to its average volume of 1,594,855. The company has a fifty day simple moving average of $115.43 and a 200 day simple moving average of $96.83. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $125.81. The stock has a market capitalization of $36.41 billion, a price-to-earnings ratio of 187.74, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. Sell-side analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insider Transactions at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,503 shares of company stock valued at $3,511,505. Corporate insiders own 2.10% of the company’s stock.

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.