IBEX Limited (NASDAQ:IBEX) Stock Short Interest Report for September

IBEX Limited (NASDAQ:IBEX) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 187,730 shares, a drop of 50.2% from the September 15th total of 377,282 shares. Based on an average daily trading volume, of 157,714 shares, the short-interest ratio is presently 1.2 days. Approximately 1.5% of the company’s stock are short sold.

Insiders Place Their Bets

In other IBEX news, Director Mingzhe Zhuang sold 5,522 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $40.10, for a total transaction of $221,432.20. Following the transaction, the director owned 2,813 shares in the company, valued at approximately $112,801.30. This represents a 66.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie K. Casteel sold 17,474 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $40.41, for a total value of $706,124.34. Following the completion of the transaction, the insider directly owned 100,814 shares of the company’s stock, valued at $4,073,893.74. This represents a 14.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,465 shares of company stock valued at $3,882,291 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IBEX

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in IBEX by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after acquiring an additional 24,942 shares during the last quarter. Tieton Capital Management LLC purchased a new stake in IBEX during the 2nd quarter valued at $8,353,000. Hillsdale Investment Management Inc. boosted its stake in IBEX by 2.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock valued at $7,086,000 after purchasing an additional 7,300 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of IBEX in the 2nd quarter worth $3,112,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of IBEX by 121.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 95,665 shares of the company’s stock worth $2,566,000 after purchasing an additional 52,526 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Robert W. Baird boosted their price target on IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Finally, Wall Street Zen downgraded IBEX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

IBEX Stock Performance

Shares of IBEX traded down $0.26 during trading hours on Friday, hitting $45.65. The company had a trading volume of 80,411 shares, compared to its average volume of 123,609. The stock has a market capitalization of $606.23 million, a price-to-earnings ratio of 14.58 and a beta of 0.69. The firm has a fifty day moving average price of $40.01 and a 200-day moving average price of $34.23. IBEX has a 52-week low of $25.94 and a 52-week high of $47.32.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Friday, September 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $164.27 million for the quarter, compared to the consensus estimate of $160.02 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

About IBEX

IBEX Limited is a provider of business process outsourcing and customer experience solutions. The company helps brands manage customer interactions across voice, chat, email, social media and other digital channels, combining contact-center operations with technology, analytics and automation.

Its services include customer care, technical support, sales, revenue generation, back-office processing and trust and safety programs. IBEX also offers digital transformation and artificial intelligence-enabled tools intended to improve customer engagement, agent productivity and operational performance.

IBEX serves clients in industries such as communications, health care, retail, logistics, financial services and technology.