Iron Mountain (NYSE:IRM) Stock Price Down 9.5% – Here’s Why

Iron Mountain Incorporated (NYSE:IRM) shares were down 9.5% on Wednesday . The stock traded as low as $113.50 and last traded at $113.81. Approximately 1,797,768 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 1,594,856 shares. The stock had previously closed at $125.73.

Analyst Ratings Changes

Several equities research analysts have weighed in on IRM shares. Barclays lifted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Iron Mountain Trading Down 9.0 %

The firm has a market capitalization of $33.57 billion, a PE ratio of 146.72, a PEG ratio of 7.33 and a beta of 0.99. The firm’s fifty day moving average is $118.93 and its two-hundred day moving average is $101.08. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,637 shares of company stock valued at $3,210,575 in the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Iron Mountain

A number of institutional investors have recently modified their holdings of IRM. Norden Group LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $657,000. Nordea Investment Management AB lifted its stake in Iron Mountain by 17.2% in the 1st quarter. Nordea Investment Management AB now owns 24,524 shares of the financial services provider’s stock worth $1,972,000 after purchasing an additional 3,596 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Iron Mountain by 113.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,354 shares of the financial services provider’s stock worth $1,793,000 after purchasing an additional 11,902 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Iron Mountain by 196.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,681 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 3,102 shares in the last quarter. Finally, TFG Advisers LLC raised its position in shares of Iron Mountain by 5.2% during the 1st quarter. TFG Advisers LLC now owns 22,515 shares of the financial services provider’s stock valued at $1,806,000 after buying an additional 1,104 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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.