Amalgamated Bank Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Amalgamated Bank lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,855 shares of the financial services provider’s stock after selling 1,582 shares during the period. Amalgamated Bank’s holdings in Iron Mountain were worth $7,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Norden Group LLC purchased a new stake in Iron Mountain during the first quarter valued at about $657,000. Nordea Investment Management AB grew its holdings in Iron Mountain by 17.2% in the 1st quarter. Nordea Investment Management AB now owns 24,524 shares of the financial services provider’s stock worth $1,972,000 after acquiring an additional 3,596 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Iron Mountain by 196.5% during the first quarter. Geneos Wealth Management Inc. now owns 4,681 shares of the financial services provider’s stock valued at $375,000 after buying an additional 3,102 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Iron Mountain by 69.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,552 shares of the financial services provider’s stock worth $2,050,000 after purchasing an additional 10,461 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Iron Mountain by 660.7% in the first quarter. Quantbot Technologies LP now owns 65,120 shares of the financial services provider’s stock worth $5,223,000 after buying an additional 56,560 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $114.44 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 146.72, a PEG ratio of 7.33 and a beta of 0.99. The company’s 50 day moving average is $118.93 and its 200 day moving average is $101.08. Iron Mountain Incorporated has a 52-week low of $58.55 and a 52-week high of $130.24.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

About Iron Mountain

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.