Denali Advisors LLC Invests $558,000 in IBEX Limited (NASDAQ:IBEX)

Denali Advisors LLC purchased a new position in IBEX Limited (NASDAQ:IBEX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,962 shares of the company’s stock, valued at approximately $558,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in IBEX by 314.5% during the third quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after buying an additional 1,623 shares in the last quarter. R Squared Ltd acquired a new stake in shares of IBEX during the 4th quarter worth approximately $48,000. Public Employees Retirement System of Ohio acquired a new stake in shares of IBEX during the 3rd quarter worth approximately $68,000. SG Americas Securities LLC acquired a new position in IBEX during the fourth quarter valued at approximately $116,000. Finally, Meeder Asset Management Inc. lifted its stake in IBEX by 359.2% during the third quarter. Meeder Asset Management Inc. now owns 10,781 shares of the company’s stock worth $215,000 after purchasing an additional 8,433 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IBEX. Royal Bank of Canada lifted their price target 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 boosted their target price on IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Insider Activity

In other IBEX news, Director Mohammedulla Khaishgi sold 12,600 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.50, for a total value of $333,900.00. Following the completion of the transaction, the director now directly owns 89,912 shares in the company, valued at approximately $2,382,668. This represents a 12.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bruce Neil Dawson sold 13,500 shares of IBEX stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.00, for a total transaction of $324,000.00. Following the transaction, the insider now owns 5,607 shares in the company, valued at approximately $134,568. This trade represents a 70.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,666 shares of company stock valued at $6,774,437. 6.72% of the stock is currently owned by corporate insiders.

IBEX Stock Performance

Shares of IBEX stock opened at $25.76 on Thursday. The company’s 50 day moving average price is $22.88 and its two-hundred day moving average price is $20.25. The firm has a market capitalization of $339.83 million, a P/E ratio of 12.09 and a beta of 0.78. IBEX Limited has a fifty-two week low of $13.00 and a fifty-two week high of $27.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 1.44.

IBEX (NASDAQ:IBEX) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. IBEX had a return on equity of 25.29% and a net margin of 7.08%.

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.