79,822 Shares in Iron Mountain Incorporated $IRM Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 79,822 shares of the financial services provider’s stock, valued at approximately $8,856,000.

A number of other institutional investors have also recently added to or reduced their stakes in IRM. Profund Advisors LLC increased its position in Iron Mountain by 42.2% in the 3rd quarter. Profund Advisors LLC now owns 5,536 shares of the financial services provider’s stock valued at $614,000 after acquiring an additional 1,644 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Iron Mountain by 10.1% during the third quarter. ProShare Advisors LLC now owns 62,026 shares of the financial services provider’s stock worth $6,882,000 after purchasing an additional 5,685 shares during the period. Americana Partners LLC lifted its holdings in shares of Iron Mountain by 1.0% during the third quarter. Americana Partners LLC now owns 243,675 shares of the financial services provider’s stock worth $27,036,000 after purchasing an additional 2,345 shares during the period. Aprio Wealth Management LLC grew its stake in shares of Iron Mountain by 6.2% in the third quarter. Aprio Wealth Management LLC now owns 7,114 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 415 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Iron Mountain by 408.1% in the third quarter. International Assets Investment Management LLC now owns 20,000 shares of the financial services provider’s stock worth $2,219,000 after purchasing an additional 16,064 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IRM has been the subject of several analyst reports. Truist Financial raised their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Rothschild & Co Redburn began coverage on Iron Mountain in a research report on Monday, September 21st. They issued a “buy” rating and a $132.00 price target on the stock. The Goldman Sachs Group increased their price target on Iron Mountain from $153.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. increased their price target on Iron Mountain from $138.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, BNP Paribas Exane lifted their price objective on Iron Mountain from $138.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.89.

Insider Transactions at Iron Mountain

In other news, EVP Greg McIntosh sold 5,000 shares of Iron Mountain stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $116.96, for a total value of $584,800.00. Following the completion of the transaction, the executive vice president directly owned 65,634 shares of the company’s stock, valued at approximately $7,676,552.64. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 142,422 shares of company stock valued at $16,465,899. Corporate insiders own 1.70% of the company’s stock.

Iron Mountain Stock Up 2.0%

IRM opened at $118.99 on Thursday. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The company has a fifty day moving average of $114.40 and a 200-day moving average of $115.26. The stock has a market cap of $35.42 billion, a PE ratio of 85.00 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. Iron Mountain’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share. Sell-side analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.