Mithu Bhargava, the Executive Vice President and General Manager of the Digital Business Unit at Iron Mountain Inc . (NYSE:IRM), has recently sold a significant portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Bhargava sold 8,263 shares of Iron Mountain common stock on December 23, 2024. The shares were sold at a price of $104.49 each, totaling approximately $863,400. The transaction comes as Iron Mountain's stock has shown remarkable strength, posting a 55% gain year-to-date according to InvestingPro data.
Following this transaction, Bhargava now holds 13,054 shares of Iron Mountain. The sale was conducted under a pre-arranged trading plan, as indicated in the filing. Iron Mountain, a real estate investment trust headquartered in Portsmouth, New Hampshire, specializes in information management services. With a market capitalization of nearly $31 billion and a strong dividend track record spanning 15 consecutive years, the company maintains a "GOOD" overall financial health score according to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ top US stocks.
In other recent news, Iron Mountain Incorporated (NYSE:IRM) showcased solid financial growth with record quarterly revenues of $1.6 billion, a 12% increase from the previous year, and a rise in adjusted EBITDA to $568 million. The company also successfully completed a private offering of $1.2 billion in senior notes, significantly up from the initially proposed $750 million, intending to reduce the outstanding debt under its revolving credit facility. Additionally, Iron Mountain announced the appointment of June Yee Felix to its board of directors, leveraging her extensive experience from the financial services, fintech, and technology sectors.
In terms of operational highlights, the company's data center segment demonstrated a 20% organic increase with 106 megawatts of new leases year-to-date. Furthermore, asset life cycle management (ALM) revenue surged 145% year-on-year to $102 million. Iron Mountain also secured notable contracts in ALM, including a seven-year deal with a large Australian government department and agreements with an Australian telecommunications provider and a global technology company in the U.S. These recent developments reflect the ongoing growth and strategic initiatives of Iron Mountain Incorporated.
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