SeaCrest Wealth Management LLC Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

SeaCrest Wealth Management LLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,264 shares of the financial services provider’s stock after selling 270 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Iron Mountain were worth $583,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Iron Mountain by 201.7% during 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 in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain during the fourth quarter valued at $26,000. CVA Family Office LLC purchased a new stake in Iron Mountain during the fourth quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain during the fourth quarter valued at $36,000. Finally, Heritage Wealth Advisors purchased a new stake in Iron Mountain during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.3 %

Shares of IRM opened at $90.87 on Wednesday. Iron Mountain Incorporated has a twelve month low of $56.28 and a twelve month high of $91.06. The company has a market cap of $26.64 billion, a P/E ratio of 137.68, a P/E/G ratio of 5.31 and a beta of 0.98. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The company’s fifty day simple moving average is $82.81 and its 200-day simple moving average is $76.36.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is presently 393.95%.

Insider Transactions at Iron Mountain

In other news, EVP Edward Baker-Greene sold 6,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total value of $547,770.00. Following the transaction, the executive vice president now directly owns 11,311 shares in the company, valued at $999,326.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 6,200 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total transaction of $547,770.00. Following the transaction, the executive vice president now directly owns 11,311 shares in the company, valued at approximately $999,326.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Tomovcsik sold 35,084 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the transaction, the chief operating officer now owns 20,366 shares in the company, valued at $1,807,686.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,053 shares of company stock worth $8,429,641. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Barclays upped their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company increased their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.33.

Iron Mountain Profile

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.