Short Interest in Iron Mountain Incorporated (NYSE:IRM) Decreases By 9.9%

Iron Mountain Incorporated (NYSE:IRM) was the target of a large 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 trading volume of 1,450,000 shares, the days-to-cover ratio is currently 5.8 days.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,125 shares of company stock valued at $6,613,584 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IRM. Tidal Investments LLC increased its stake in Iron Mountain by 284.1% in 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 during the period. Atria Investments Inc purchased a new stake in shares of Iron Mountain in the first quarter valued at about $1,873,000. Cetera Investment Advisers boosted its holdings in shares of Iron Mountain by 708.9% in the first quarter. Cetera Investment Advisers now owns 229,863 shares of the financial services provider’s stock valued at $18,437,000 after acquiring an additional 201,448 shares in the last quarter. Cetera Advisors LLC boosted its holdings in shares of Iron Mountain by 14.7% in the first 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Iron Mountain by 169.5% during the first quarter. EverSource Wealth Advisors LLC now owns 954 shares of the financial services provider’s stock worth $74,000 after buying an additional 600 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IRM. Barclays cut their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain Stock Performance

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

Iron Mountain Announces Dividend

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

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.