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

Royal Fund Management LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 66.0% during the first quarter, Holdings Channel.com reports. The firm owned 15,649 shares of the financial services provider’s stock after selling 30,381 shares during the quarter. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. Garton & Associates Financial Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $25,000. Beaird Harris Wealth Management LLC increased its position in Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock valued at $29,000 after buying an additional 350 shares in the last quarter. Dynamic Wealth Strategies LLC bought a new position in Iron Mountain during the 1st quarter valued at approximately $31,000. Johnson Financial Group Inc. purchased a new position in Iron Mountain during the third quarter valued at $32,000. Finally, Bayban bought a new stake in Iron Mountain in the fourth quarter worth $33,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IRM. Barclays raised their price target on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Wells Fargo & Company lifted their target price 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. Finally, Weiss Ratings upgraded shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.33.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $124.42 on Friday. Iron Mountain Incorporated has a 1 year low of $77.77 and a 1 year high of $134.68. The company has a market cap of $37.02 billion, a P/E ratio of 136.72 and a beta of 1.19. The stock’s fifty day moving average price is $125.26 and its 200-day moving average price is $113.70.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.Iron Mountain’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Insider Activity

In other news, Director Walter C. Rakowich sold 757 shares of Iron Mountain stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total value of $94,208.65. Following the completion of the sale, the director directly owned 1,135 shares in the company, valued at $141,250.75. The trade was a 40.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total transaction of $244,011.24. Following the transaction, the director directly owned 40,196 shares of the company’s stock, valued at $5,184,078.12. The trade was a 4.50% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 137,260 shares of company stock worth $17,361,672. 1.70% of the stock is owned by corporate insiders.

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.