IBEX (NASDAQ:IBEX) CEO Sells $225,100.00 in Stock

IBEX Limited (NASDAQ:IBEX) CEO Robert Dechant sold 5,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $45.02, for a total value of $225,100.00. Following the sale, the chief executive officer directly owned 257,011 shares of the company’s stock, valued at approximately $11,570,635.22. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robert Thomas Dechant also recently made the following trade(s):

• On Tuesday, September 15th, Robert Dechant sold 25,000 shares of IBEX stock. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00.

IBEX Stock Performance

IBEX traded down $0.95 during trading on Tuesday, hitting $43.38. The stock had a trading volume of 76,476 shares, compared to its average volume of 126,654. The firm has a market capitalization of $576.09 million, a P/E ratio of 13.86 and a beta of 0.72. IBEX Limited has a twelve month low of $25.94 and a twelve month high of $45.28. The company’s 50-day moving average price is $37.67 and its 200 day moving average price is $32.77.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird raised their price target on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings upgraded IBEX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. Finally, Wall Street Zen downgraded IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC boosted its stake in shares of IBEX by 159.1% during the 4th quarter. Clearstead Advisors LLC now owns 2,635 shares of the company’s stock worth $101,000 after acquiring an additional 1,618 shares in the last quarter. Sargent Investment Group LLC acquired a new position in shares of IBEX during the 4th quarter worth $249,000. Evolve Private Wealth LLC raised its stake in shares of IBEX by 5.7% during the 1st quarter. Evolve Private Wealth LLC now owns 10,280 shares of the company’s stock worth $276,000 after buying an additional 555 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of IBEX by 33.0% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock worth $321,000 after buying an additional 2,625 shares in the last quarter. Finally, Horizon Investment Services LLC boosted its position in shares of IBEX by 70.4% in the 4th quarter. Horizon Investment Services LLC now owns 10,745 shares of the company’s stock worth $410,000 after buying an additional 4,440 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

IBEX Company Profile

IBEX Limited (NASDAQ: IBEX) is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company’s services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.