Iron Mountain Incorporated $IRM Shares Purchased by AGF Management Ltd.

AGF Management Ltd. raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 178.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,185 shares of the financial services provider’s stock after buying an additional 14,205 shares during the quarter. AGF Management Ltd.’s holdings in Iron Mountain were worth $2,262,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in Iron Mountain during the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Iron Mountain by 111.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 650 shares of the financial services provider’s stock worth $67,000 after buying an additional 343 shares in the last quarter. City Holding Co. purchased a new stake in shares of Iron Mountain during the third quarter worth about $68,000. First Horizon Corp acquired a new position in shares of Iron Mountain in the third quarter valued at approximately $68,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Iron Mountain during the second quarter valued at approximately $79,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the sale, the executive vice president owned 55,081 shares of the company’s stock, valued at $4,577,231.10. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 38,482 shares of Iron Mountain stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 119,607 shares of company stock valued at $9,970,025. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IRM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Barclays reiterated an “overweight” rating and issued a $126.00 target price on shares of Iron Mountain in a research note on Tuesday, January 13th. Finally, Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

Iron Mountain Stock Down 1.2%

IRM stock opened at $88.95 on Friday. The company has a market cap of $26.29 billion, a price-to-earnings ratio of 167.82 and a beta of 1.16. The business has a fifty day simple moving average of $86.74 and a 200-day simple moving average of $93.60. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $108.15.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.