Gables Capital Management Inc. Has $1.06 Million Position in Iron Mountain Inc (NYSE:IRM)

Gables Capital Management Inc. cut its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 40,595 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Gables Capital Management Inc.’s holdings in Iron Mountain were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Asset Advisors Investment Management LLC bought a new stake in Iron Mountain in the 2nd quarter valued at $26,000. Enterprise Financial Services Corp boosted its stake in Iron Mountain by 485.9% in the 1st quarter. Enterprise Financial Services Corp now owns 1,207 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,001 shares during the period. Private Capital Group LLC lifted its position in shares of Iron Mountain by 122.2% during the 1st quarter. Private Capital Group LLC now owns 1,584 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 871 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Iron Mountain by 172.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,654 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,047 shares during the period. Finally, Trustcore Financial Services LLC lifted its position in shares of Iron Mountain by 70.1% during the 1st quarter. Trustcore Financial Services LLC now owns 1,701 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 701 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of IRM stock traded down $0.06 on Friday, hitting $28.19. 3,273,052 shares of the company’s stock were exchanged, compared to its average volume of 2,270,629. The company has a debt-to-equity ratio of 9.31, a current ratio of 0.76 and a quick ratio of 0.76. Iron Mountain Inc has a 12 month low of $21.00 and a 12 month high of $34.49. The stock has a market cap of $8.12 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 2.30 and a beta of 0.67. The company has a 50 day moving average of $26.81 and a 200 day moving average of $27.56.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. Iron Mountain had a return on equity of 19.16% and a net margin of 7.06%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company earned $0.17 EPS. Iron Mountain’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts predict that Iron Mountain Inc will post 2.1 EPS for the current fiscal year.

In related news, Director Jennifer Allerton sold 7,011 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $27.30, for a total transaction of $191,400.30. Following the completion of the sale, the director now directly owns 12,812 shares in the company, valued at approximately $349,767.60. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

IRM has been the subject of a number of recent analyst reports. Credit Suisse Group cut their target price on Iron Mountain from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Friday, May 8th. ValuEngine downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $32.20.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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