Goldstone Financial Group LLC Invests $540,000 in Iron Mountain Incorporated (NYSE:IRM)

Goldstone Financial Group LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,548 shares of the financial services provider’s stock, valued at approximately $540,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its holdings in shares of Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after purchasing an additional 475,849 shares during the period. Legal & General Group Plc raised its stake in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. lifted its holdings in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares during the period. Bank of New York Mellon Corp boosted its position in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after acquiring an additional 6,562 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.0 %

Iron Mountain stock opened at $127.65 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $130.24. The company has a market cap of $37.44 billion, a PE ratio of 163.65, a PEG ratio of 7.42 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The business’s 50-day simple moving average is $118.16 and its two-hundred day simple moving average is $99.54.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays upped their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,637 shares of company stock valued at $3,210,575 in the last quarter. 2.10% of the stock is currently owned by company insiders.

About Iron Mountain

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.