Iron Mountain Incorporated (NYSE:IRM) Short Interest Down 5.4% in January

Iron Mountain Incorporated (NYSE:IRM) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 7,540,000 shares, a decline of 5.4% from the December 31st total of 7,970,000 shares. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is currently 4.7 days.

Iron Mountain Stock Performance

IRM traded down $0.93 during trading on Monday, hitting $100.64. 1,665,140 shares of the stock were exchanged, compared to its average volume of 1,949,659. The firm has a 50 day simple moving average of $109.28 and a 200 day simple moving average of $112.63. The firm has a market cap of $29.53 billion, a price-to-earnings ratio of 279.57, a P/E/G ratio of 5.58 and a beta of 1.01. Iron Mountain has a 1 year low of $66.20 and a 1 year high of $130.24.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a $0.715 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.84%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total transaction of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,874,874. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was 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 of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,016 shares of company stock worth $13,666,427. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Key Financial Inc raised its position in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the third quarter valued at about $31,000. West Branch Capital LLC bought a new position in Iron Mountain in the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $36,000. Finally, Dunhill Financial LLC grew its position in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $130.83.

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.