In the 21st century investor’s toolkit, there are plenty of metrics market participants can use to watch publicly traded companies. Some of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite fund managers can beat the broader indices by a solid margin (see just how much).
Just as necessary, bullish insider trading sentiment is another way to analyze the financial markets. There are a variety of motivations for an upper level exec to drop shares of his or her company, but just one, very simple reason why they would buy. Many empirical studies have demonstrated the market-beating potential of this method if investors understand where to look (learn more here).
Keeping this in mind, let’s analyze the latest info surrounding Iron Mountain Incorporated (NYSE:IRM).
How are hedge funds trading Iron Mountain Incorporated (NYSE:IRM)?
Heading into Q3, a total of 29 of the hedge funds we track held long positions in this stock, a change of 21% from the previous quarter. With hedgies’ sentiment swirling, there exists a select group of notable hedge fund managers who were boosting their holdings substantially.
When using filings from the hedgies we track, Highfields Capital Management, managed by Jonathon Jacobson, holds the biggest position in Iron Mountain Incorporated (NYSE:IRM). Highfields Capital Management has a $248.5 million position in the stock, comprising 2.1% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $54.7 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining hedge funds that hold long positions include Jeffrey Altman’s Owl Creek Asset Management, John C. Walker’s Stonerise Capital Management and D. E. Shaw’s D E Shaw.
With a general bullishness amongst the titans, specific money managers have been driving this bullishness. Highfields Capital Management, managed by Jonathon Jacobson, assembled the biggest position in Iron Mountain Incorporated (NYSE:IRM). Highfields Capital Management had 248.5 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $54.7 million investment in the stock during the quarter. The other funds with brand new IRM positions are Jeffrey Altman’s Owl Creek Asset Management, John C. Walker’s Stonerise Capital Management, and D. E. Shaw’s D E Shaw.
How have insiders been trading Iron Mountain Incorporated (NYSE:IRM)?
Insider buying is particularly usable when the primary stock in question has experienced transactions within the past half-year. Over the latest 180-day time frame, Iron Mountain Incorporated (NYSE:IRM) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Iron Mountain Incorporated (NYSE:IRM). These stocks are Jack Henry & Associates, Inc. (NASDAQ:JKHY), Solera Holdings Inc (NYSE:SLH), Total System Services, Inc. (NYSE:TSS), NetSuite Inc (NYSE:N), and Amdocs Limited (NYSE:DOX). This group of stocks are the members of the business software & services industry and their market caps match IRM’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Jack Henry & Associates, Inc. (NASDAQ:JKHY) | 10 | 0 | 0 |
| Solera Holdings Inc (NYSE:SLH) | 11 | 0 | 0 |
| Total System Services, Inc. (NYSE:TSS) | 21 | 0 | 0 |
| NetSuite Inc (NYSE:N) | 18 | 0 | 0 |
| Amdocs Limited (NYSE:DOX) | 24 | 0 | 0 |
Using the returns shown by the previously mentioned studies, regular investors should always watch hedge fund and insider trading activity, and Iron Mountain Incorporated (NYSE:IRM) is no exception.
