Prossimo Advisors LLC Invests $210,000 in Iron Mountain Incorporated (NYSE:IRM)

Prossimo Advisors LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,765 shares of the financial services provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Iron Mountain during the third quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain during the second quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in Iron Mountain during the first quarter worth about $38,000. Finally, Family Firm Inc. acquired a new stake in Iron Mountain during the second quarter worth about $45,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IRM shares. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now 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 worth $3,210,575 over the last 90 days. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Down 2.1 %

NYSE IRM opened at $121.16 on Friday. The firm has a 50 day simple moving average of $118.54 and a 200-day simple moving average of $100.03. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $130.24. The firm has a market cap of $35.54 billion, a price-to-earnings ratio of 155.34, a PEG ratio of 7.41 and a beta of 0.99.

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

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.