Summit Trail Advisors LLC Buys 927 Shares of Iron Mountain Incorporated (NYSE:IRM)

Summit Trail Advisors LLC grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 19.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,704 shares of the financial services provider’s stock after acquiring an additional 927 shares during the quarter. Summit Trail Advisors LLC’s holdings in Iron Mountain were worth $604,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC raised its position in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 495,898 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after acquiring an additional 445,207 shares during the period. abrdn plc boosted its position in shares of Iron Mountain by 88.2% during the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after acquiring an additional 293,425 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in Iron Mountain by 10,432.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 240,261 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Down 0.0 %

Shares of IRM stock opened at $106.20 on Wednesday. The business’s 50-day moving average price is $106.72 and its 200-day moving average price is $112.92. Iron Mountain Incorporated has a 12 month low of $66.20 and a 12 month high of $130.24. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 295.01, a PEG ratio of 5.84 and a beta of 1.01.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the company’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 completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock worth $16,805,912 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IRM shares. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays dropped their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.