Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 8,950,000 shares, a decline of 10.2% from the September 30th total of 9,970,000 shares. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is presently 5.6 days.

Insider Activity

In other news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,637 shares of company stock valued at $3,210,575 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blake Schutter Theil Wealth Advisors LLC acquired a new stake in shares of Iron Mountain in the third quarter worth $514,000. Avidian Wealth Enterprises LLC bought a new stake in Iron Mountain in the 3rd quarter valued at $223,000. Crescent Grove Advisors LLC increased its holdings in Iron Mountain by 4.7% in the 3rd quarter. Crescent Grove Advisors LLC now owns 12,843 shares of the financial services provider’s stock valued at $1,535,000 after buying an additional 571 shares during the period. Asset Management One Co. Ltd. increased its holdings in Iron Mountain by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 570,237 shares of the financial services provider’s stock valued at $67,761,000 after buying an additional 3,571 shares during the period. Finally, National Pension Service increased its holdings in Iron Mountain by 15.4% in the 3rd quarter. National Pension Service now owns 459,478 shares of the financial services provider’s stock valued at $54,600,000 after buying an additional 61,187 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM traded down $3.14 during trading hours on Thursday, hitting $124.50. 923,195 shares of the company’s stock traded hands, compared to its average volume of 1,588,076. Iron Mountain has a 52 week low of $57.36 and a 52 week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The company’s fifty day simple moving average is $118.16 and its two-hundred day simple moving average is $99.54. The company has a market cap of $36.52 billion, a price-to-earnings ratio of 163.65, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (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 analysts’ expectations 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 for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. As a group, equities analysts anticipate that Iron Mountain will post 4.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Barclays boosted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.50.

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.