World Asset Management Inc raised its position in shares of Iron Mountain Inc (NYSE:IRM) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,259 shares of the financial services provider’s stock after acquiring an additional 1,874 shares during the period. World Asset Management Inc’s holdings in Iron Mountain were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of IRM. Bank of Montreal Can raised its stake in Iron Mountain by 6.6% in the first quarter. Bank of Montreal Can now owns 345,648 shares of the financial services provider’s stock valued at $12,257,000 after buying an additional 21,510 shares during the last quarter. Private Capital Group LLC raised its stake in Iron Mountain by 85.0% in the first quarter. Private Capital Group LLC now owns 1,243 shares of the financial services provider’s stock valued at $44,000 after buying an additional 571 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Iron Mountain by 182.8% in the first quarter. BNP Paribas Arbitrage SA now owns 257,773 shares of the financial services provider’s stock valued at $9,141,000 after buying an additional 166,610 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Iron Mountain in the first quarter valued at about $2,952,000. Finally, Pegasus Asset Management Inc. raised its stake in Iron Mountain by 10.4% in the first quarter. Pegasus Asset Management Inc. now owns 8,155 shares of the financial services provider’s stock valued at $289,000 after buying an additional 770 shares during the last quarter. 88.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:IRM opened at $31.60 on Friday. Iron Mountain Inc has a 52-week low of $30.22 and a 52-week high of $37.32. The stock has a market capitalization of $9.07 billion, a PE ratio of 13.74, a PEG ratio of 3.99 and a beta of 0.63. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.80 and a quick ratio of 0.80.
In related news, CEO William L. Meaney sold 8,621 shares of Iron Mountain stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $35.28, for a total transaction of $304,148.88. Following the completion of the transaction, the chief executive officer now directly owns 155,007 shares in the company, valued at $5,468,646.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Clark H. Bailey sold 9,108 shares of Iron Mountain stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $35.16, for a total value of $320,237.28. Following the transaction, the director now owns 160,702 shares of the company’s stock, valued at $5,650,282.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,226 shares of company stock valued at $2,812,393. Company insiders own 1.60% of the company’s stock.
A number of research firms have commented on IRM. Robert W. Baird set a $34.00 price target on Iron Mountain and gave the company a “hold” rating in a research note on Friday, February 15th. ValuEngine cut Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Zacks Investment Research cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Mitsubishi UFJ Financial Group increased their price target on Iron Mountain to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, February 20th. Finally, Credit Suisse Group reiterated an “underperform” rating on shares of Iron Mountain in a research note on Tuesday, February 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $35.13.
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About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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