Rik Saylor Financial Inc. Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Rik Saylor Financial Inc. purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,212 shares of the financial services provider’s stock, valued at approximately $863,000.

A number of other hedge funds also recently modified their holdings of IRM. PNC Financial Services Group Inc. increased its stake in shares of Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after buying an additional 1,446 shares during the period. Friedenthal Financial bought a new stake in shares of Iron Mountain during the 3rd quarter valued at about $824,000. Merit Financial Group LLC grew its position in shares of Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares during the period. Tidal Investments LLC grew its holdings in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after buying an additional 5,511 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $103.87 on Thursday. Iron Mountain Incorporated has a 1-year low of $66.20 and a 1-year high of $130.24. The company has a market capitalization of $30.48 billion, a P/E ratio of 288.54, a P/E/G ratio of 5.58 and a beta of 1.01. The firm’s 50 day simple moving average is $108.03 and its 200 day simple moving average is $112.61.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,141 shares of company stock worth $20,567,176. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Iron Mountain

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.