Iron Mountain Incorporated (NYSE:IRM) Position Increased by Jump Financial LLC

Jump Financial LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 764.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,486 shares of the financial services provider's stock after purchasing an additional 32,266 shares during the quarter. Jump Financial LLC's holdings in Iron Mountain were worth $3,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wealthfront Advisers LLC lifted its stake in Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after buying an additional 6,795,792 shares during the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain in the 4th quarter worth about $348,249,000. TD Asset Management Inc. lifted its position in Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Iron Mountain during the 4th quarter valued at about $55,271,000. Finally, Invesco Ltd. grew its position in Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after purchasing an additional 363,783 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

IRM has been the subject of several analyst reports. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $121.29.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Shares of IRM traded up $1.58 during mid-day trading on Friday, hitting $84.21. The company's stock had a trading volume of 1,824,556 shares, compared to its average volume of 1,830,538. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 0.97. The firm has a 50-day moving average price of $87.29 and a 200 day moving average price of $104.34.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the firm posted $0.52 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a $0.785 dividend. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.73%. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.