Insider Selling: IBEX (NASDAQ:IBEX) Insider Sells $90,960.00 in Stock

IBEX Limited (NASDAQ:IBEX) insider Paul Inson sold 2,274 shares of IBEX stock in a transaction on Monday, September 14th. The shares were sold at an average price of $40.00, for a total transaction of $90,960.00. Following the completion of the sale, the insider directly owned 29,724 shares of the company’s stock, valued at approximately $1,188,960. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IBEX Stock Performance

Shares of NASDAQ IBEX traded up $0.31 during trading on Tuesday, hitting $40.80. 386,897 shares of the company traded hands, compared to its average volume of 124,214. The business’s fifty day moving average is $36.11 and its 200 day moving average is $31.88. IBEX Limited has a fifty-two week low of $25.94 and a fifty-two week high of $42.40. The firm has a market capitalization of $541.78 million, a price-to-earnings ratio of 13.04 and a beta of 0.72.

IBEX (NASDAQ:IBEX) last issued its earnings results on Thursday, September 10th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. IBEX had a return on equity of 28.96% and a net margin of 7.19%.The company had revenue of $164.27 million during the quarter, compared to the consensus estimate of $160.02 million.

Analysts Set New Price Targets

IBEX has been the topic of a number of recent research reports. Wall Street Zen cut IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday. Robert W. Baird boosted their price target on shares of IBEX from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of IBEX in a report on Friday, July 31st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.00.

Hedge Funds Weigh In On IBEX

Several institutional investors have recently modified their holdings of the business. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of IBEX by 33.0% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock valued at $321,000 after acquiring an additional 2,625 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in IBEX by 6.4% during the second quarter. Squarepoint Ops LLC now owns 84,982 shares of the company’s stock worth $2,581,000 after acquiring an additional 5,127 shares during the period. Globeflex Capital L P purchased a new position in IBEX in the second quarter worth $3,112,000. Tieton Capital Management LLC purchased a new position in IBEX in the second quarter worth $8,353,000. Finally, Lazard Asset Management LLC grew its stake in IBEX by 55.2% in the 1st quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock valued at $2,391,000 after purchasing an additional 31,697 shares during the period. 81.24% of the stock is owned by 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.