Insider Selling: IBEX (NASDAQ:IBEX) Insider Sells $706,124.34 in Stock

IBEX Limited (NASDAQ:IBEX) insider Julie Casteel sold 17,474 shares of IBEX stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.41, for a total value of $706,124.34. Following the sale, the insider directly owned 100,814 shares of the company’s stock, valued at approximately $4,073,893.74. This trade represents a 14.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

IBEX Trading Down 1.8%

Shares of IBEX stock opened at $40.20 on Friday. IBEX Limited has a twelve month low of $25.94 and a twelve month high of $42.40. The stock has a fifty day simple moving average of $36.71 and a two-hundred day simple moving average of $32.19. The stock has a market capitalization of $533.86 million, a price-to-earnings ratio of 12.84 and a beta of 0.72.

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

Institutional Investors Weigh In On IBEX

A number of institutional investors have recently added to or reduced their stakes in IBEX. Tieton Capital Management LLC purchased a new position in shares of IBEX in the 2nd quarter worth approximately $8,353,000. Globeflex Capital L P purchased a new stake in IBEX during the second quarter valued at approximately $3,112,000. Y Intercept Hong Kong Ltd lifted its position in IBEX by 121.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 95,665 shares of the company’s stock valued at $2,566,000 after acquiring an additional 52,526 shares during the last quarter. Lazard Asset Management LLC boosted its stake in IBEX by 55.2% in the first quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock valued at $2,391,000 after acquiring an additional 31,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in IBEX by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock valued at $9,607,000 after acquiring an additional 24,942 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IBEX. Weiss Ratings restated a “hold (c+)” rating on shares of IBEX in a report on Friday, July 31st. Robert W. Baird increased their price objective on shares of IBEX from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. Finally, Wall Street Zen lowered shares of IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.00.

About IBEX

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.