Prestige Wealth Management Group LLC Buys 314 Shares of Iron Mountain Incorporated (NYSE:IRM)

Prestige Wealth Management Group LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,160 shares of the financial services provider’s stock after acquiring an additional 314 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Iron Mountain were worth $440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Merit Financial Group LLC increased its position in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain in the 3rd quarter worth $24,122,000. Finally, World Investment Advisors LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $554,000. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,979 shares of company stock valued at $30,666,904. 2.10% of the stock is owned by company insiders.

Iron Mountain Trading Up 3.0 %

Shares of IRM opened at $90.14 on Tuesday. The stock has a 50 day moving average of $96.65 and a 200 day moving average of $109.03. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 147.77, a PEG ratio of 5.15 and a beta of 1.04.

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

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IRM shares. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays dropped their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $125.67.

Iron Mountain 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.