Iron Mountain Incorporated (NYSE:IRM - Get Free Report) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 10,630,000 shares, a growth of 6.7% from the May 15th total of 9,960,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 8.2 days.
Insider Buying and Selling
In related news, CAO Daniel Borges sold 3,095 shares of the business's stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Greg W. Mcintosh sold 13,923 shares of the company's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the transaction, the executive vice president now directly owns 18,107 shares of the company's stock, valued at $1,582,732.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the company's stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Insiders sold 63,227 shares of company stock valued at $5,125,392 over the last 90 days. Corporate insiders own 2.10% of the company's stock.
Institutional Investors Weigh In On Iron Mountain
Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain in the fourth quarter valued at $26,000. CVA Family Office LLC purchased a new stake in Iron Mountain in the fourth quarter valued at $32,000. Headlands Technologies LLC acquired a new position in shares of Iron Mountain in the first quarter worth about $38,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain in the fourth quarter worth about $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on IRM. Wells Fargo & Company upped their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, March 15th. Barclays upped their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 5th. Finally, TheStreet lowered shares of Iron Mountain from a "b" rating to a "c" rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Iron Mountain has a consensus rating of "Moderate Buy" and an average price target of $73.80.
View Our Latest Analysis on IRM
Iron Mountain Stock Performance
Shares of IRM traded up $0.43 during trading hours on Wednesday, reaching $88.70. 2,478,679 shares of the company traded hands, compared to its average volume of 1,405,428. The stock has a market capitalization of $26.00 billion, a P/E ratio of 134.40, a P/E/G ratio of 5.23 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain has a 12-month low of $53.74 and a 12-month high of $89.91. The business has a fifty day moving average price of $80.08 and a 200-day moving average price of $74.76.
Iron Mountain Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, June 17th. Iron Mountain's dividend payout ratio (DPR) is presently 393.95%.
About Iron Mountain
(Get Free Report)
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.
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