QRG Capital Management Inc. Has $17.75 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

QRG Capital Management Inc. trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 14.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,407 shares of the financial services provider’s stock after selling 25,374 shares during the quarter. QRG Capital Management Inc. owned about 0.05% of Iron Mountain worth $17,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at about $38,000. Finally, Family Firm Inc. acquired a new position in Iron Mountain during the 2nd quarter worth approximately $45,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $3,210,575 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

NYSE:IRM traded up $1.13 during trading hours on Monday, reaching $122.29. The stock had a trading volume of 107,888 shares, compared to its average volume of 1,587,692. 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 stock has a 50 day simple moving average of $118.54 and a 200 day simple moving average of $100.20. Iron Mountain Incorporated has a 12-month low of $58.55 and a 12-month high of $130.24. The stock has a market cap of $35.87 billion, a P/E ratio of 155.34, a price-to-earnings-growth ratio of 7.41 and a beta of 0.99.

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

Iron Mountain 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.