Simon Quick Advisors LLC Purchases Shares of 2,086 Iron Mountain Incorporated $IRM

Simon Quick Advisors LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,086 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other institutional investors have also recently bought and sold shares of IRM. Financial Network Wealth Advisors LLC bought a new position in Iron Mountain in the first quarter valued at approximately $26,000. Ramirez Asset Management Inc. bought a new position in Iron Mountain in the first quarter valued at approximately $34,000. Wayfinding Financial LLC bought a new position in Iron Mountain in the first quarter valued at approximately $37,000. Richards Merrill & Peterson Inc. bought a new position in Iron Mountain in the first quarter valued at approximately $43,000. Finally, Zions Bancorporation National Association UT bought a new position in Iron Mountain in the first quarter valued at approximately $46,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IRM. Barclays lifted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus target price of $116.83.

Iron Mountain Trading Down 0.4%

Shares of IRM opened at $103.29 on Wednesday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $125.88. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 737.86 and a beta of 1.06. The company’s fifty day simple moving average is $100.60 and its 200 day simple moving average is $98.14.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Kidd sold 7,306 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $100.82, for a total transaction of $736,590.92. Following the completion of the transaction, the executive vice president owned 73,081 shares in the company, valued at $7,368,026.42. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 151,556 shares of company stock worth $14,547,978. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Profile

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.