Griffin Asset Management Inc. lessened its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,338 shares of the financial services provider’s stock after selling 1,416 shares during the quarter. Griffin Asset Management Inc.’s holdings in Iron Mountain were worth $821,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Macroview Investment Management LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $25,000. North Star Investment Management Corp. acquired a new stake in Iron Mountain during the 3rd quarter worth $28,000. Mcmillion Capital Management Inc. acquired a new stake in Iron Mountain during the 2nd quarter worth $31,000. Prime Capital Investment Advisors LLC acquired a new stake in Iron Mountain during the 2nd quarter worth $31,000. Finally, Valeo Financial Advisors LLC boosted its stake in Iron Mountain by 194.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 701 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.
In other news, EVP Patrick J. Keddy sold 6,000 shares of Iron Mountain stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total transaction of $198,000.00. Following the transaction, the executive vice president now owns 24,114 shares in the company, valued at approximately $795,762. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.27). Iron Mountain had a return on equity of 21.57% and a net margin of 9.14%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s revenue was up .1% on a year-over-year basis. Research analysts anticipate that Iron Mountain Inc will post 2.27 earnings per share for the current fiscal year.
Several brokerages have issued reports on IRM. Robert W. Baird raised shares of Iron Mountain from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $27.00 to $29.00 in a research note on Friday, August 2nd. Barclays set a $39.00 target price on shares of Iron Mountain and gave the stock a “hold” rating in a research note on Friday, October 11th. TheStreet raised shares of Iron Mountain from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Credit Suisse Group reaffirmed a “sell” rating and set a $21.00 target price on shares of Iron Mountain in a research note on Thursday, September 12th. Finally, ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.23.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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