Checchi Capital Advisers LLC Has $793,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Checchi Capital Advisers LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,848 shares of the financial services provider’s stock after selling 249 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Iron Mountain were worth $793,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain in the 2nd quarter valued at $32,000. Transcendent Capital Group LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth $36,000. Heritage Wealth Advisors acquired a new position in Iron Mountain in the fourth quarter valued at about $38,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $86.83, for a total transaction of $268,738.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,634 shares of company stock worth $8,874,690. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 2.6 %

Shares of IRM stock traded down $3.03 during midday trading on Wednesday, reaching $111.81. 767,600 shares of the stock were exchanged, compared to its average volume of 1,641,617. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $114.93. The company’s 50 day moving average is $100.09 and its two-hundred day moving average is $86.15. The company has a current ratio of 0.79, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a market cap of $32.78 billion, a PE ratio of 172.83, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is presently 433.33%.

Analyst Ratings Changes

Several analysts recently weighed in on IRM shares. The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Company 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.