IBEX (NASDAQ:IBEX) Stock: Insider Paul Joseph Inson Sells 6,994 Shares

IBEX Limited (NASDAQ:IBEX) insider Paul Inson sold 6,994 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $50.73, for a total value of $354,805.62. Following the transaction, the insider owned 26,550 shares in the company, valued at approximately $1,346,881.50. This trade represents a 20.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paul Joseph Inson also recently made the following trade(s):

• On Wednesday, September 16th, Paul Inson sold 2,500 shares of IBEX stock. The stock was sold at an average price of $40.07, for a total transaction of $100,175.00.
• On Monday, September 14th, Paul Inson sold 2,274 shares of IBEX stock. The stock was sold at an average price of $40.00, for a total transaction of $90,960.00.

IBEX Stock Performance

IBEX stock opened at $55.32 on Thursday. The business’s 50-day simple moving average is $43.86 and its 200-day simple moving average is $34.72. The firm has a market capitalization of $737.64 million, a PE ratio of 16.76 and a beta of 0.74. IBEX Limited has a 52 week low of $25.94 and a 52 week high of $55.77.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. IBEX had a return on equity of 29.10% and a net margin of 7.34%. The company had revenue of $175.23 million for the quarter, compared to the consensus estimate of $169.31 million.

IBEX News Roundup

These are some of the IBEX news items that stood out recently:

• Positive Sentiment: Recent earnings beat: The latest reported quarter exceeded analyst estimates for both earnings and revenue, providing a positive fundamental backdrop for the stock.
• Neutral Sentiment: Investor conference: CEO Bob Dechant and CFO Taylor Greenwald are scheduled to present at the RBC Global TIMT Conference on November 17. The appearance may give investors more insight into the business, but no new guidance was announced. Conference announcement
• Negative Sentiment: Multiple insiders sold shares: Six insiders, including CEO Dechant, sold about 31,200 shares in transactions reported around November 9–10. Dechant’s sale was made under a pre-arranged Rule 10b5-1 plan, and sellers retained shares, but the cluster of sales may weigh on sentiment. CEO filing Insider sale report

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Boston Partners raised its position in shares of IBEX by 15.3% during the third quarter. Boston Partners now owns 397,353 shares of the company’s stock worth $17,189,000 after acquiring an additional 52,638 shares during the last quarter. Dimensional Fund Advisors LP increased its position in IBEX by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after purchasing an additional 24,942 shares during the period. Tieton Capital Management LLC bought a new position in shares of IBEX in the 2nd quarter valued at about $8,353,000. Hillsdale Investment Management Inc. raised its stake in shares of IBEX by 2.8% during the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock worth $7,086,000 after buying an additional 7,300 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in IBEX by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company’s stock valued at $8,999,000 after buying an additional 6,932 shares during the period. Institutional investors and hedge funds own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IBEX shares. Wall Street Zen upgraded IBEX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. Weiss Ratings raised shares of IBEX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Royal Bank Of Canada lifted their target price on shares of IBEX from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Robert W. Baird increased their price target on shares of IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, IBEX has an average rating of “Hold” and a consensus target price of $44.50.

About IBEX

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.