Spirit of America Management Corp NY Acquires 2,850 Shares of Iron Mountain Incorporated (NYSE:IRM)

Spirit of America Management Corp NY grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 7.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 41,350 shares of the financial services provider’s stock after purchasing an additional 2,850 shares during the period. Spirit of America Management Corp NY’s holdings in Iron Mountain were worth $4,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Iron Mountain by 537.0% in the 3rd 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 during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Iron Mountain by 2,193.9% during 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 acquiring an additional 495,898 shares in the last quarter. International Assets Investment Management LLC boosted 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 valued at $53,312,000 after acquiring an additional 445,207 shares in the last quarter. abrdn plc boosted its holdings 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 valued at $73,770,000 after acquiring an additional 293,425 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after acquiring an additional 240,195 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IRM shares. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One 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. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $129.17.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $101.31 on Wednesday. Iron Mountain Incorporated has a one year low of $66.20 and a one year high of $130.24. The firm has a market capitalization of $29.73 billion, a price-to-earnings ratio of 281.42, a PEG ratio of 5.58 and a beta of 1.01. The business has a 50-day simple moving average of $108.43 and a 200 day simple moving average of $112.67.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $118.97, for a total transaction of $1,888,648.75. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $35,173,480.50. The trade was a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 125,016 shares of company stock valued at $13,666,427 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Company 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.