On May 22, 2023, William Meaney, President and CEO of Iron Mountain Inc (IRM, Financial), sold 21,014 shares of the company's stock. This insider sell comes amidst a year of significant insider selling activity for the company. In this article, we will take a closer look at William Meaney's role at Iron Mountain Inc, the company's business description, and analyze the relationship between insider buy/sell transactions and the stock price.
Who is William Meaney?
William Meaney is the President and CEO of Iron Mountain Inc, a global leader in storage and information management services. He has been with the company since 2012 and has played a crucial role in driving the company's growth and expansion. Prior to joining Iron Mountain, Meaney held various leadership positions in the aviation and logistics industries. His extensive experience and expertise have been instrumental in shaping the company's strategic direction and operational excellence.
Iron Mountain Inc's Business Description
Iron Mountain Inc is a leading provider of storage and information management services, offering a wide range of solutions to help organizations protect and manage their valuable assets. The company's services include records management, data management, document management, data centers, art storage and logistics, and secure shredding. With a global presence in over 50 countries, Iron Mountain serves more than 225,000 customers, including 95% of the Fortune 1000 companies.
Insider Buy/Sell Analysis
Over the past year, William Meaney has sold a total of 302,639 shares and purchased 0 shares. This indicates a strong selling trend for the CEO. In the same period, there have been 0 insider buys and 25 insider sells for Iron Mountain Inc. This trend suggests that insiders may have a bearish outlook on the company's stock or are taking advantage of the current market conditions to cash in on their holdings.
Stock Price Relationship
On the day of William Meaney's recent sell, shares of Iron Mountain Inc were trading at $55.06 apiece, giving the stock a market cap of $15,587.264 million. The price-earnings ratio is 27.13, which is higher than the industry median of 14.49 but lower than the company's historical median price-earnings ratio. With a price of $55.06 and a GuruFocus Value of $53.67, Iron Mountain Inc has a price-to-GF-Value ratio of 1.03, indicating that the stock is fairly valued based on its GF Value.
The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on the following three factors:
- Historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at.
- A GuruFocus adjustment factor based on the company's past returns and growth.
- Future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider sell by William Meaney, along with the overall trend of insider selling at Iron Mountain Inc, may raise concerns for investors. However, the stock's current valuation suggests that it is fairly valued, and investors should consider other factors, such as the company's financial performance and growth prospects, before making any investment decisions.
