Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 5.4% in January

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

Insider Activity 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 Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 in the last three months. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Iron Mountain

Large investors have recently made changes to their positions in the business. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $31,000. West Branch Capital LLC purchased a new position in shares of Iron Mountain in the third quarter worth $33,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain during the third quarter worth $36,000. Finally, Dunhill Financial LLC grew its stake in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRM shares. Royal Bank of Canada increased 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. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays reduced their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.83.

Iron Mountain Stock Down 0.9 %

NYSE:IRM traded down $0.93 during trading hours on Monday, hitting $100.64. 1,665,140 shares of the stock traded hands, compared to its average volume of 1,949,659. The company has a market cap of $29.53 billion, a price-to-earnings ratio of 279.57, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01. Iron Mountain has a 1 year low of $66.20 and a 1 year high of $130.24. The stock has a 50 day moving average price of $109.28 and a 200 day moving average price of $112.63.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.84%. Iron Mountain’s dividend payout ratio is presently 794.47%.

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.