Insider Selling: IBEX Limited (NASDAQ:IBEX) Major Shareholder Sells 78,728 Shares of Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $20.12, for a total value of $1,584,007.36. Following the transaction, the insider now owns 1,641,011 shares of the company’s stock, valued at $33,017,141.32. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, October 10th, Gem G.P. L.P. Pinebridge II sold 19,642 shares of IBEX stock. The shares were 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 value 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 value 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 Performance

Shares of IBEX traded down $0.53 during midday trading on Friday, hitting $20.60. 106,608 shares of the company traded hands, compared to its average volume of 71,553. The stock has a market cap of $345.26 million, a price-to-earnings ratio of 11.18 and a beta of 0.76. IBEX Limited has a 52 week low of $13.00 and a 52 week high of $21.63. The firm has a 50 day moving average of $19.28 and a 200-day moving average of $17.21.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in shares of IBEX in the 2nd quarter worth approximately $38,000. FMR LLC raised its position in IBEX by 314.5% during 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new position in IBEX in the third quarter worth $68,000. Janus Henderson Group PLC raised its holdings in shares of IBEX by 11.9% in the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock worth $347,000 after buying an additional 1,842 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in IBEX in the first quarter valued at approximately $349,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted 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 lifted their price objective on IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

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.