Insider Selling: IBEX Limited (NASDAQ:IBEX) Major Shareholder Sells 25,878 Shares of Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 25,878 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.75, for a total transaction of $536,968.50. Following the completion of the sale, the insider now directly owns 1,545,861 shares in the company, valued at approximately $32,076,615.75. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Gem G.P. L.P. Pinebridge II also recently made the following trade(s):

• On Wednesday, December 4th, Gem G.P. L.P. Pinebridge II sold 82,572 shares of IBEX stock. The stock was sold at an average price of $20.20, for a total transaction of $1,667,954.40.
• On Wednesday, November 20th, Gem G.P. L.P. Pinebridge II sold 78,728 shares of IBEX stock. The shares were sold at an average price of $20.12, for a total transaction of $1,584,007.36.
• On Thursday, October 10th, Gem G.P. L.P. Pinebridge II sold 19,642 shares of IBEX stock. The stock was sold at an average price of $19.03, for a total transaction of $373,787.26.
• On Tuesday, October 8th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.05, for a total transaction of $381,000.00.
• On Wednesday, October 2nd, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.24, for a total transaction of $384,800.00.
• On Monday, September 30th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.82, for a total transaction of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.89, for a total transaction of $397,800.00.

IBEX Stock Up 0.1 %

IBEX stock opened at $19.79 on Friday. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $21.63. The stock has a market capitalization of $331.78 million, a price-to-earnings ratio of 10.48 and a beta of 0.80. The firm’s fifty day simple moving average is $19.40 and its two-hundred day simple moving average is $17.62.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.54 EPS for the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.54%. The firm had revenue of $124.53 million for the quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IBEX. Robert W. Baird lifted their price target on shares of IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Institutional Trading of IBEX

Hedge funds have recently modified their holdings of the company. FMR LLC raised its position in shares of IBEX by 314.5% in the 3rd quarter. FMR LLC now owns 2,139 shares of the company’s stock valued at $43,000 after purchasing an additional 1,623 shares during the last quarter. Janus Henderson Group PLC grew its stake in IBEX by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock valued at $347,000 after acquiring an additional 1,842 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in IBEX by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock valued at $528,000 after purchasing an additional 1,874 shares in the last quarter. State Street Corp raised its holdings in shares of IBEX by 1.2% during the 3rd quarter. State Street Corp now owns 181,035 shares of the company’s stock worth $3,617,000 after acquiring an additional 2,105 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of IBEX during the 2nd quarter worth $38,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

IBEX Company Profile

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.