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. He has been with the company since 2012 and has extensive experience in the information management and storage industry. Prior to joining Iron Mountain, Meaney held leadership positions at several global organizations, including serving as the CEO of The Zuellig Group and as a senior executive at Singapore Airlines. His expertise in the industry and strong leadership skills have been instrumental in driving Iron Mountain's growth and success.
Iron Mountain Inc's Business Description
Iron Mountain Inc is a global leader in information management and storage services. The company provides a wide range of services, including records management, data management, document management, and secure shredding. Iron Mountain serves customers in various industries, such as healthcare, financial services, legal, and government. With a presence in over 50 countries, the company has a vast network of storage facilities and a strong reputation for providing secure and reliable information management solutions.
Insider Buy/Sell Analysis and Relationship with Stock Price
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.
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 $15,663.086 million. The price-earnings ratio is 27.26, which is higher than the industry median of 14.36 but lower than the company's historical median price-earnings ratio. This suggests that the stock may be overvalued compared to its industry peers but undervalued based on its historical performance.
With a price of $55.06 and a GuruFocus Value of $53.69, Iron Mountain Inc has a price-to-GF-Value ratio of 1.03. This indicates that the stock is fairly valued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, which takes into account historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.
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 price-earnings ratio and price-to-GF-Value ratio suggest that it is fairly valued at its current price. Investors should keep a close eye on the company's financial performance and any future insider transactions to make informed decisions about their investments in Iron Mountain Inc.
