William Meaney Sells 69,125 Shares of Iron Mountain (NYSE:IRM) Stock

by · The Markets Daily

Iron Mountain Incorporated (NYSE:IRM – Get Free Report) CEO William Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $102.75, for a total value of $7,102,593.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Iron Mountain Price Performance

Shares of IRM traded down $2.80 during midday trading on Wednesday, reaching $100.52. The stock had a trading volume of 3,093,128 shares, compared to its average volume of 1,718,147. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 718.05 and a beta of 1.06. The company’s fifty day simple moving average is $100.60 and its two-hundred day simple moving average is $98.14. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $125.38.

Iron Mountain (NYSE:IRM – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Iron Mountain during the second quarter valued at about $419,457,000. Nuveen LLC acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $192,231,000. Invesco Ltd. increased its holdings in Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock worth $439,983,000 after purchasing an additional 1,440,629 shares during the last quarter. Contour Asset Management LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at approximately $122,801,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Iron Mountain during the 3rd quarter valued at approximately $109,941,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on Iron Mountain

Iron Mountain Company Profile

(Get Free Report)

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.

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