IBEX Limited (NASDAQ:IBEX) Short Interest Up 19.9% in March

IBEX Limited (NASDAQ:IBEX) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 133,700 shares, an increase of 19.9% from the February 28th total of 111,500 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 200,700 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price on IBEX from $21.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, February 7th.

Insider Transactions at IBEX

In other news, CEO Robert Thomas Dechant sold 49,931 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.24, for a total value of $1,310,189.44. Following the transaction, the chief executive officer now owns 213,633 shares of the company’s stock, valued at approximately $5,605,729.92. The trade was a 18.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mohammedulla Khaishgi sold 4,626 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $22.50, for a total transaction of $104,085.00. Following the transaction, the director now directly owns 216,718 shares of the company’s stock, valued at $4,876,155. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,213 shares of company stock worth $4,414,121 over the last ninety days. Company insiders own 6.72% of the company’s stock.

Institutional Trading of IBEX

A number of institutional investors and hedge funds have recently modified their holdings of IBEX. FMR LLC grew its stake in 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 buying an additional 1,623 shares during the last quarter. Martingale Asset Management L P increased its position in IBEX by 110.9% during the 3rd quarter. Martingale Asset Management L P now owns 21,720 shares of the company’s stock valued at $434,000 after purchasing an additional 11,421 shares during the period. Walleye Capital LLC bought a new stake in shares of IBEX during the 3rd quarter valued at about $556,000. Janus Henderson Group PLC raised its holdings in shares of IBEX by 11.9% during the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock valued at $347,000 after purchasing an additional 1,842 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of IBEX by 20.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 85,149 shares of the company’s stock valued at $1,701,000 after buying an additional 14,411 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

IBEX Price Performance

IBEX stock traded down $0.17 during mid-day trading on Wednesday, hitting $24.98. The company’s stock had a trading volume of 114,217 shares, compared to its average volume of 111,232. The stock’s fifty day moving average price is $24.67 and its two-hundred day moving average price is $21.67. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.01. IBEX has a twelve month low of $13.00 and a twelve month high of $27.83. The stock has a market capitalization of $329.54 million, a P/E ratio of 11.73 and a beta of 0.75.

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

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.