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

Spirit of America Management Corp NY raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,350 shares of the financial services provider’s stock after acquiring 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.

A number of other large investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the third quarter worth $31,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the third quarter valued at $33,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain during the third quarter valued at $36,000. Dunhill Financial LLC lifted its stake in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the period. Finally, Quarry LP lifted its stake in shares of Iron Mountain by 86.5% during the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,874,874. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,016 shares of company stock valued at $13,666,427 over the last three months. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.7 %

IRM opened at $101.31 on Wednesday. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24. The stock has a market cap 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 moving average of $108.43 and a 200-day moving average of $112.67.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Barclays lowered their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.17.

About Iron Mountain

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.