Parallel Advisors LLC lifted its stake in Iron Mountain Inc (NYSE:IRM) by 1,619.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,407 shares of the financial services provider’s stock after purchasing an additional 2,267 shares during the quarter. Parallel Advisors LLC’s holdings in Iron Mountain were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baldwin Brothers Inc. MA purchased a new stake in shares of Iron Mountain in the first quarter worth approximately $44,000. JNBA Financial Advisors bought a new position in Iron Mountain during the fourth quarter valued at approximately $83,000. Dubuque Bank & Trust Co. raised its position in Iron Mountain by 565.3% during the fourth quarter. Dubuque Bank & Trust Co. now owns 1,171 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 995 shares in the last quarter. BlackRock Inc. raised its position in Iron Mountain by 1.2% during the fourth quarter. BlackRock Inc. now owns 20,124,142 shares of the financial services provider’s stock valued at $652,224,000 after acquiring an additional 231,023 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Iron Mountain by 6.6% during 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 acquiring an additional 21,510 shares in the last quarter. 88.47% of the stock is owned by institutional investors and hedge funds.
In other Iron Mountain news, Director Clark H. Bailey sold 9,108 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $35.16, for a total transaction of $320,237.28. Following the transaction, the director now owns 160,702 shares in the company, valued at $5,650,282.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stuart B. Brown sold 2,200 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $31.65, for a total value of $69,630.00. Following the transaction, the chief financial officer now owns 18,525 shares in the company, valued at approximately $586,316.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,426 shares of company stock worth $2,882,023. Corporate insiders own 1.90% of the company’s stock.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.05). Iron Mountain had a net margin of 8.22% and a return on equity of 19.61%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business posted $0.48 EPS. Iron Mountain’s revenue was up 1.1% compared to the same quarter last year. Analysts predict that Iron Mountain Inc will post 2.24 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. Robert W. Baird set a $34.00 price objective on shares of Iron Mountain and gave the company a “hold” rating in a research report on Friday, February 15th. ValuEngine lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Mitsubishi UFJ Financial Group raised their price objective on shares of Iron Mountain to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, February 20th. Finally, Credit Suisse Group reaffirmed an “underperform” rating on shares of Iron Mountain in a research report on Tuesday, February 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price 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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