Beacon Financial Advisory LLC Reduces Holdings in Iron Mountain Incorporated (NYSE:IRM)

Beacon Financial Advisory LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 quarter.

Several other institutional investors have also added to or reduced their stakes in IRM. PNC Financial Services Group Inc. increased its holdings in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Iron Mountain in the third quarter worth $824,000. Merit Financial Group LLC lifted its stake 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 valued at $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC boosted its holdings in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 5,511 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were 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 quarter, insiders sold 194,141 shares of company stock worth $20,567,176. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company cut 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 price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price objective 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 investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $129.17.

Iron Mountain Stock Up 2.6 %

Shares of IRM opened at $103.87 on Thursday. The business has a fifty day moving average of $108.03 and a 200 day moving average of $112.61. The company has a market cap of $30.48 billion, a PE ratio of 288.54, a P/E/G ratio of 5.58 and a beta of 1.01. Iron Mountain Incorporated has a 52-week low of $66.20 and a 52-week high of $130.24.

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.