Beacon Financial Advisory LLC Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Beacon Financial Advisory LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,464 shares of the financial services provider’s stock after selling 119 shares during the period. Beacon Financial Advisory LLC’s holdings in Iron Mountain were worth $1,520,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Czech National Bank lifted its holdings in Iron Mountain by 7.0% during the third quarter. Czech National Bank now owns 59,755 shares of the financial services provider’s stock worth $7,101,000 after buying an additional 3,896 shares during the period. GAMMA Investing LLC lifted its stake in shares of Iron Mountain by 27.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,794 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 815 shares during the last quarter. Diversified Trust Co boosted its position in Iron Mountain by 148.4% during the third quarter. Diversified Trust Co now owns 12,168 shares of the financial services provider’s stock valued at $1,446,000 after purchasing an additional 7,270 shares in the last quarter. Fulton Bank N.A. purchased a new position in Iron Mountain in the third quarter valued at about $229,000. Finally, City Center Advisors LLC bought a new position in Iron Mountain in the third quarter worth about $224,000. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 ninety days, insiders sold 194,141 shares of company stock valued at $20,567,176. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Performance

Shares of IRM stock opened at $103.87 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $66.20 and a fifty-two week high of $130.24. The firm has a market capitalization of $30.48 billion, a PE ratio of 288.54, a P/E/G ratio of 5.58 and a beta of 1.01. The stock’s 50-day simple moving average is $108.03 and its 200-day simple moving average is $112.61.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IRM shares. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $129.17.

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.