Kovack Advisors Inc. Has $304,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Kovack Advisors Inc. lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,555 shares of the financial services provider’s stock after selling 269 shares during the period. Kovack Advisors Inc.’s holdings in Iron Mountain were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its stake in Iron Mountain by 36.1% during the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock worth $2,281,000 after purchasing an additional 5,086 shares during the last quarter. MQS Management LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth $205,000. Savvy Advisors Inc. acquired a new stake in Iron Mountain in the third quarter valued at about $209,000. Ashton Thomas Private Wealth LLC grew its position in Iron Mountain by 40.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 651 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in Iron Mountain by 66.1% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 73,691 shares of the financial services provider’s stock worth $8,757,000 after acquiring an additional 29,321 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This represents a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,387 shares of company stock valued at $6,971,838. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their target price 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. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $129.80.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $114.87 on Friday. The firm has a market cap of $33.71 billion, a PE ratio of 319.09, a price-to-earnings-growth ratio of 6.95 and a beta of 0.99. Iron Mountain Incorporated has a 52 week low of $61.59 and a 52 week high of $130.24. The firm’s fifty day moving average is $119.57 and its 200-day moving average is $102.89. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.49%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

Iron Mountain 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.