Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 9.9% in November

Iron Mountain Incorporated (NYSE:IRM) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 8,350,000 shares, a decrease of 9.9% from the October 31st total of 9,270,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is presently 5.8 days.

Iron Mountain Stock Performance

IRM traded down $1.36 during trading hours on Tuesday, hitting $120.23. The stock had a trading volume of 2,275,232 shares, compared to its average volume of 1,591,721. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market cap of $35.28 billion, a PE ratio of 333.79, a price-to-earnings-growth ratio of 7.27 and a beta of 0.98. Iron Mountain has a 1 year low of $64.66 and a 1 year high of $130.24. The company’s fifty day simple moving average is $120.65 and its 200 day simple moving average is $106.47.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.38%. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Analysts Set New Price Targets

IRM has been the subject of several analyst reports. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays lowered their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $131.00.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 5.10 % 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. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s 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 sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock valued at $6,613,584 over the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its position in Iron Mountain by 284.1% during the first quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock valued at $1,477,000 after purchasing an additional 13,621 shares in the last quarter. Atria Investments Inc purchased a new stake in Iron Mountain during the first quarter valued at about $1,873,000. Cetera Investment Advisers grew its stake in shares of Iron Mountain by 708.9% during the first quarter. Cetera Investment Advisers now owns 229,863 shares of the financial services provider’s stock valued at $18,437,000 after buying an additional 201,448 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Iron Mountain by 14.7% in the 1st quarter. Cetera Advisors LLC now owns 69,505 shares of the financial services provider’s stock valued at $5,575,000 after acquiring an additional 8,917 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Iron Mountain by 169.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 600 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.