Globeflex Capital L P Makes New $3.11 Million Investment in IBEX Limited $IBEX

Globeflex Capital L P bought a new stake in shares of IBEX Limited (NASDAQ:IBEX) in the second quarter, HoldingsChannel reports. The institutional investor bought 102,475 shares of the company’s stock, valued at approximately $3,112,000.

Several other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of IBEX by 55.2% during the first quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock valued at $2,391,000 after buying an additional 31,697 shares during the period. Sierra Summit Advisors LLC purchased a new stake in IBEX in the fourth quarter worth about $879,000. Tieton Capital Management LLC purchased a new stake in IBEX in the second quarter worth about $8,353,000. Watershed Asset Management L.L.C. purchased a new stake in IBEX in the first quarter worth about $453,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in IBEX by 121.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 95,665 shares of the company’s stock worth $2,566,000 after acquiring an additional 52,526 shares in the last quarter. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

IBEX Price Performance

IBEX stock opened at $36.56 on Monday. The firm has a market cap of $489.54 million, a P/E ratio of 11.43 and a beta of 0.69. The business has a fifty day moving average of $33.69 and a two-hundred day moving average of $31.08. IBEX Limited has a twelve month low of $25.94 and a twelve month high of $42.99.

Insider Buying and Selling at IBEX

In other news, Director Patrick Mcginnis sold 1,030 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $31.69, for a total value of $32,640.70. Following the completion of the transaction, the director directly owned 5,833 shares of the company’s stock, valued at approximately $184,847.77. The trade was a 15.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Julie K. Casteel sold 3,600 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.61, for a total value of $110,196.00. Following the sale, the insider owned 117,594 shares of the company’s stock, valued at $3,599,552.34. This trade represents a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of IBEX in a research report on Friday, July 31st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.00.

IBEX Company Profile

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.