Iron Mountain Incorporated (NYSE:IRM) Short Interest Update

Iron Mountain Incorporated (NYSE:IRM) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 7,540,000 shares, a drop of 5.4% from the December 15th total of 7,970,000 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is currently 4.7 days.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $131.00.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Iron Mountain

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the third quarter valued at $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain during the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC increased its position in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Quarry LP raised its stake in Iron Mountain by 86.5% in the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 1.0 %

IRM opened at $109.19 on Friday. The firm has a 50-day moving average price of $111.35 and a 200-day moving average price of $111.74. Iron Mountain has a twelve month low of $65.01 and a twelve month high of $130.24. The company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 303.31, a PEG ratio of 5.56 and a beta of 1.02.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 annualized dividend and a yield of 2.62%. Iron Mountain’s dividend payout ratio is currently 794.47%.

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.