Insider Selling: IBEX (NASDAQ:IBEX) Insider Sells 2,627 Shares of Stock

IBEX Limited (NASDAQ:IBEX) insider Paul Joseph Inson sold 2,627 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $34.98, for a total value of $91,892.46. Following the sale, the insider owned 27,469 shares in the company, valued at $960,865.62. The trade was a 8.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

IBEX Trading Down 3.1%

Shares of IBEX traded down $0.96 during midday trading on Wednesday, reaching $30.17. The stock had a trading volume of 350,805 shares, compared to its average volume of 160,448. The company has a market capitalization of $404.58 million, a price-to-earnings ratio of 10.31 and a beta of 0.64. The company’s 50-day moving average is $37.27 and its 200 day moving average is $35.46. IBEX Limited has a 12-month low of $21.64 and a 12-month high of $42.99.

IBEX (NASDAQ:IBEX) last released its earnings results on Thursday, February 5th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.09. The company had revenue of $164.22 million during the quarter, compared to the consensus estimate of $155.48 million. IBEX had a return on equity of 31.70% and a net margin of 7.35%.

Hedge Funds Weigh In On IBEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in IBEX in the third quarter worth $7,685,000. AQR Capital Management LLC raised its holdings in IBEX by 312.6% in the 1st quarter. AQR Capital Management LLC now owns 139,902 shares of the company’s stock worth $3,407,000 after purchasing an additional 105,997 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of IBEX by 37.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 347,583 shares of the company’s stock worth $14,084,000 after purchasing an additional 95,595 shares during the period. Invesco Ltd. boosted its stake in shares of IBEX by 200.2% during the 3rd quarter. Invesco Ltd. now owns 89,509 shares of the company’s stock valued at $3,627,000 after purchasing an additional 59,694 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of IBEX by 694.7% during the third quarter. Squarepoint Ops LLC now owns 66,573 shares of the company’s stock valued at $2,698,000 after buying an additional 58,196 shares during the period. 81.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBEX has been the topic of a number of analyst reports. Weiss Ratings cut shares of IBEX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 5th. Wall Street Zen lowered shares of IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank Of Canada raised their price objective on IBEX from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

About IBEX

IBEX Holdings, Inc is a global business process outsourcing (BPO) company that specializes in customer experience solutions for a range of industries, including telecommunications, cable, technology, financial services and e-commerce. The company’s core offerings encompass multichannel customer support delivered via voice, email, chat, social media and digital self-service platforms. In addition to front-line contact center services, IBEX provides back-office processing, order management, technical troubleshooting and analytics-driven insights to help clients optimize operational efficiency and customer satisfaction.

Beyond traditional contact center operations, IBEX has built a proprietary technology stack designed to integrate real-time data analytics, workforce management and quality assurance.