QRG Capital Management Inc. Sells 25,374 Shares of Iron Mountain Incorporated (NYSE:IRM)

QRG Capital Management Inc. lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 14.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 149,407 shares of the financial services provider’s stock after selling 25,374 shares during the quarter. QRG Capital Management Inc.’s holdings in Iron Mountain were worth $17,754,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain in the 2nd quarter valued at about $32,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter valued at about $36,000. Headlands Technologies LLC purchased a new position in Iron Mountain during the 1st quarter valued at about $38,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain during the 2nd quarter valued at about $45,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.9 %

IRM stock traded up $1.13 during midday trading on Monday, hitting $122.29. The company’s stock had a trading volume of 107,888 shares, compared to its average volume of 1,587,692. The company has a market cap of $35.87 billion, a PE ratio of 155.34, a P/E/G ratio of 7.41 and a beta of 0.99. Iron Mountain Incorporated has a 12 month low of $58.55 and a 12 month high of $130.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm’s 50-day moving average is $118.54 and its 200-day moving average is $100.20.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays upped their target price 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. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Activity at Iron Mountain

In other 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 transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on 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 directly owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the company’s 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is owned by corporate insiders.

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.