Iron Mountain Incorporated (NYSE:IRM) Position Cut by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 29.1% in the 4th quarter, Holdings Channel reports. The fund owned 1,461 shares of the financial services provider’s stock after selling 600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Iron Mountain were worth $154,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Friedenthal Financial bought a new position in Iron Mountain in the 3rd quarter worth approximately $824,000. Merit Financial Group LLC increased its position in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC raised its stake in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $106.13 on Friday. The firm has a market cap of $31.14 billion, a PE ratio of 294.81, a P/E/G ratio of 5.58 and a beta of 1.01. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24. The firm has a 50 day simple moving average of $107.31 and a 200 day simple moving average of $112.61.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.17.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction 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 approximately $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. In the last 90 days, insiders sold 178,266 shares of company stock worth $18,694,561. Insiders own 2.10% of the company’s stock.

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.