Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 6.8% in March

Iron Mountain Incorporated (NYSE:IRM) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 9,800,000 shares, a decline of 6.8% from the March 15th total of 10,520,000 shares. Based on an average daily trading volume, of 1,440,000 shares, the days-to-cover ratio is presently 6.8 days.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares in the company, valued at approximately $3,238,393.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock valued at $12,698,221 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Iron Mountain

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in shares of Iron Mountain during the fourth quarter valued at approximately $16,590,000. Allworth Financial LP increased its stake in shares of Iron Mountain by 6,889.9% during the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock valued at $4,422,000 after buying an additional 62,285 shares during the period. Waverly Advisors LLC purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $1,993,000. RPg Family Wealth Advisory LLC purchased a new stake in Iron Mountain in the fourth quarter worth $3,270,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Iron Mountain by 99.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock worth $5,051,000 after purchasing an additional 42,407 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IRM shares. TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Stifel Nicolaus boosted their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Barclays boosted their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Stock Performance

Shares of IRM stock opened at $75.15 on Thursday. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. Iron Mountain has a fifty-two week low of $52.05 and a fifty-two week high of $82.19. The stock has a 50 day moving average price of $76.31 and a two-hundred day moving average price of $68.47. The company has a market capitalization of $21.96 billion, a P/E ratio of 119.29, a PEG ratio of 4.50 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts expect that Iron Mountain will post 4.16 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.46%. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

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.