IBEX Limited (NASDAQ:IBEX) Sees Large Growth in Short Interest

IBEX Limited (NASDAQ:IBEX) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 141,700 shares, a growth of 29.9% from the January 31st total of 109,100 shares. Based on an average trading volume of 190,300 shares, the short-interest ratio is presently 0.7 days. Approximately 1.3% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, Director Shuja Keen sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $20.27, for a total value of $344,590.00. Following the transaction, the director now directly owns 71,110 shares of the company’s stock, valued at $1,441,399.70. The trade was a 19.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 23,735 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $20.02, for a total value of $475,174.70. Following the sale, the insider now directly owns 1,390,739 shares of the company’s stock, valued at $27,842,594.78. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,719 shares of company stock worth $7,547,658 over the last three months. 6.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IBEX

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of IBEX by 1,369.6% during the 4th quarter. JPMorgan Chase & Co. now owns 284,292 shares of the company’s stock valued at $6,109,000 after acquiring an additional 264,947 shares during the last quarter. Impact Capital Partners LLC acquired a new stake in shares of IBEX during the fourth quarter worth $4,829,000. Dimensional Fund Advisors LP increased its holdings in IBEX by 30.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 326,141 shares of the company’s stock valued at $7,009,000 after purchasing an additional 76,302 shares during the last quarter. Walleye Capital LLC lifted its stake in IBEX by 267.2% in the fourth quarter. Walleye Capital LLC now owns 102,220 shares of the company’s stock valued at $2,197,000 after buying an additional 74,380 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in IBEX by 97.7% during the fourth quarter. Two Sigma Advisers LP now owns 145,700 shares of the company’s stock worth $3,131,000 after buying an additional 72,000 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on IBEX from $21.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Robert W. Baird raised their price objective on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

IBEX Trading Down 1.5 %

IBEX traded down $0.38 during mid-day trading on Tuesday, reaching $24.52. The stock had a trading volume of 160,097 shares, compared to its average volume of 217,732. The firm’s fifty day simple moving average is $23.26 and its two-hundred day simple moving average is $20.54. The stock has a market capitalization of $323.47 million, a P/E ratio of 11.51 and a beta of 0.78. IBEX has a 52 week low of $13.00 and a 52 week high of $27.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 1.44.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. IBEX had a return on equity of 25.29% and a net margin of 7.08%.

About IBEX

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.