Genesee Capital Advisors LLC Has $721,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

Genesee Capital Advisors LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 37.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,379 shares of the financial services provider’s stock after selling 5,010 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Iron Mountain were worth $721,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Iron Mountain during the first quarter worth $728,000. Heartland Bank & Trust Co boosted its holdings in Iron Mountain by 16.6% during the first quarter. Heartland Bank & Trust Co now owns 9,492 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 1,353 shares during the last quarter. Aspire Private Capital LLC boosted its holdings in Iron Mountain by 9.7% during the first quarter. Aspire Private Capital LLC now owns 10,569 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 931 shares during the last quarter. Advisor Resource Council acquired a new position in Iron Mountain during the first quarter worth $294,000. Finally, Spirit of America Management Corp NY boosted its holdings in Iron Mountain by 4.6% during the first quarter. Spirit of America Management Corp NY now owns 43,250 shares of the financial services provider’s stock worth $3,721,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In related news, Director Walter C. Rakowich sold 900 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director now directly owns 36,515 shares of the company’s stock, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock valued at $20,319,408 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of several analyst reports. Barclays upped their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $121.71.

Iron Mountain Price Performance

Shares of IRM opened at $101.32 on Friday. The firm has a market capitalization of $29.89 billion, a PE ratio of 247.12 and a beta of 1.09. The company’s 50-day moving average is $95.44 and its 200-day moving average is $96.77. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s payout ratio is presently 765.85%.

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.