Royal Fund Management LLC Trims Stake in Iron Mountain Incorporated $IRM

Royal Fund Management LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 66.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,649 shares of the financial services provider’s stock after selling 30,381 shares during the period. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,598,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Edgestream Partners L.P. purchased a new position in shares of Iron Mountain during the first quarter worth about $2,049,000. Anson Funds Management LP purchased a new stake in Iron Mountain in the first quarter valued at approximately $4,310,000. Bull Harbor Capital LLC bought a new stake in Iron Mountain during the first quarter valued at approximately $358,000. Adelante Capital Management LLC grew its stake in Iron Mountain by 5.2% in the 1st quarter. Adelante Capital Management LLC now owns 356,934 shares of the financial services provider’s stock worth $36,457,000 after buying an additional 17,707 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Iron Mountain by 64.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,796 shares of the financial services provider’s stock worth $286,000 after buying an additional 1,092 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, Director Pamela M. Arway sold 1,892 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $128.97, for a total transaction of $244,011.24. Following the sale, the director directly owned 40,196 shares of the company’s stock, valued at approximately $5,184,078.12. The trade was a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total value of $94,208.65. Following the transaction, the director owned 1,135 shares in the company, valued at $141,250.75. This trade represents a 40.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,260 shares of company stock valued at $17,361,672 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IRM shares. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Truist Financial set a $140.00 price target on Iron Mountain in a research note on Friday, May 1st. Weiss Ratings upgraded Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Iron Mountain Stock Up 3.0%

NYSE:IRM opened at $124.42 on Friday. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The stock has a market cap of $37.02 billion, a P/E ratio of 136.72 and a beta of 1.19. The firm’s fifty day simple moving average is $125.26 and its 200 day simple moving average is $113.70.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company posted $1.17 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, analysts expect that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Iron Mountain Company 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.