Jonathan Jacobsen’s Highfields Capital Management, a Boston, MA., based hedge fund, has increased its stake in Iron Mountain Incorporated (NYSE:IRM) to 5.4%, according to the latest SEC form 13G filing.
Highfields Capital Management is a value-oriented investment management firm, which manages private investment funds for charitable and philanthropic foundations, endowments, pension funds, and other institutional and private investors. The firm has spread its funds worldwide in both public and private companies in various industries and security types, totalling more than $11 billion.
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For Highfields Capital Management, Highfields GP, and Mr. Jacobson are now deemed to beneficially own 9,183,478 or 5.4% of Iron Mountain Incorporated (NYSE:IRM), with an equal voting power or power to direct a vote, while Highfields Associates may be deemed to own 6,928,496 shares, or 4% with the same amount of voting power, or the power to direct a vote.
Iron Mountain Inc. operates in the business software and services industry, in the technology sector. It provides information management services, primarily in North America, Europe, Latin America, and the Asia Pacific.
Iron Mountain Incorporated (NYSE:IRM)’s stock has jumped 17.55% up with the last 52 weeks, as compared to S&P 500’s 15.98%. It has a market cap of $5.60 billion.
Iron Mountain has 171.30 million shares outstanding, with 151.48 million floated. A majority of the floated shares are held by institutions with approximately 83%, while insiders hold 20% of shares outstanding.
The company has a profit margin of 5.41% for the twelve trailing months, while its operating profit stands at 20.83%. Iron Mountain reported a total cash fund of $170.23 million, or $0.99 per share for the most recent quarter ending June 30, 2012.
Stifel Nicolaus research recently upgraded the company’s stock from Hold to Buy, while its price target has been rated at a mean of $39.83 this year.
Iron Mountain Incorporated (NYSE:IRM)’s stock price closed at $32.75 today after declining by $0.07 per share or 0.21%.