Envestnet Asset Management Inc. cut its position in shares of Iron Mountain Inc (NYSE:IRM) by 14.7% during the 3rd quarter, Holdings Channel reports. The firm owned 38,472 shares of the financial services provider’s stock after selling 6,628 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Iron Mountain were worth $1,246,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp boosted its holdings in Iron Mountain by 6.3% during the third quarter. Atlantic Union Bankshares Corp now owns 24,503 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 1,461 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Iron Mountain by 8.6% in the third quarter. Nisa Investment Advisors LLC now owns 131,619 shares of the financial services provider’s stock valued at $4,263,000 after purchasing an additional 10,478 shares during the period. Capital Investment Advisory Services LLC raised its position in shares of Iron Mountain by 15.3% in the third quarter. Capital Investment Advisory Services LLC now owns 22,541 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 2,995 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Iron Mountain by 27.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 360,662 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 78,711 shares during the period. Finally, Sawyer & Company Inc bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $104,000. Institutional investors and hedge funds own 86.23% of the company’s stock.
Iron Mountain stock opened at $33.63 on Thursday. The firm’s 50 day simple moving average is $32.75 and its 200 day simple moving average is $31.89. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 6.51. The firm has a market capitalization of $9.87 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 3.44 and a beta of 0.53. Iron Mountain Inc has a 1-year low of $29.28 and a 1-year high of $37.32.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, October 31st. The financial services provider reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.27). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a return on equity of 21.57% and a net margin of 9.14%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. Research analysts forecast that Iron Mountain Inc will post 2.26 earnings per share for the current year.
Several research firms have recently issued reports on IRM. Barclays set a $39.00 price target on shares of Iron Mountain and gave the company a “hold” rating in a research report on Friday, October 11th. Credit Suisse Group reissued a “sell” rating and issued a $21.00 price target on shares of Iron Mountain in a research report on Thursday, September 12th. Wells Fargo & Co began coverage on shares of Iron Mountain in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price target on the stock. Bank of America lowered shares of Iron Mountain from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $33.00 to $25.00 in a research report on Thursday, July 11th. Finally, ValuEngine lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.23.
In related news, EVP Patrick J. Keddy sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $33.00, for a total transaction of $198,000.00. Following the sale, the executive vice president now owns 24,114 shares of the company’s stock, valued at approximately $795,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Iron Mountain Company Profile
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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