Iron Mountain Incorporated (NYSE:IRM) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,731 shares of the financial services provider’s stock after selling 6,778 shares during the period. Iron Mountain comprises 1.4% of TCV Trust & Wealth Management Inc.’s holdings, making the stock its 23rd biggest holding. TCV Trust & Wealth Management Inc.’s holdings in Iron Mountain were worth $15,318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its stake in Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 92 shares during the period. Geller Advisors LLC lifted its position in shares of Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its stake in Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC grew its position in Iron Mountain by 0.6% during the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $106.20 on Wednesday. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 295.01, a PEG ratio of 5.84 and a beta of 1.01. The business has a 50 day simple moving average of $106.72 and a 200 day simple moving average of $112.92. Iron Mountain Incorporated has a 52 week low of $66.20 and a 52 week high of $130.24.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research analyst reports. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Barclays dropped 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. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.17.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the business’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 disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock valued at $16,805,912 over the last ninety days. 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.