On July 14, 2023, William Meaney, President and CEO of Iron Mountain Inc (IRM, Financial), sold 21,014 shares of the company. This move is part of a larger trend, as over the past year, Meaney has sold a total of 344,667 shares and made no purchases.
William Meaney has been the President and CEO of Iron Mountain Inc since 2013. Under his leadership, the company has grown significantly, expanding its services and increasing its market share. Meaney's experience in the industry and his strategic vision have been instrumental in the company's success.
Iron Mountain Inc is a global business dedicated to storing, protecting and managing information and assets. The company offers a wide range of services, including data backup and recovery, document management, secure shredding, and information governance. Iron Mountain's real estate network spans more than 90 million square feet across more than 1,480 facilities in approximately 50 countries.
Insider trading activities can provide valuable insights into a company's health and future prospects. Over the past year, there have been 31 insider sells and no insider buys at Iron Mountain Inc. This trend could indicate that insiders believe the company's stock is currently overvalued.
On the day of Meaney's recent sell, Iron Mountain Inc's shares were trading at $59.17, giving the company a market cap of $17.87 billion. The price-earnings ratio was 31.11, higher than the industry median of 16.4 but lower than the company's historical median price-earnings ratio.
According to GuruFocus Value, Iron Mountain Inc's stock is modestly overvalued. The stock's price-to-GF-Value ratio is 1.09, with a GF Value of $54.43 and a current price of $59.17.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider sell by William Meaney, along with the overall insider sell trend at Iron Mountain Inc, could be a signal that the company's stock is currently overvalued. However, investors should also consider other factors, such as the company's financial health and market conditions, before making any investment decisions.
