IBEX (NASDAQ:IBEX) Insider Paul Joseph Inson Sells 2,274 Shares of Stock

IBEX Limited (NASDAQ:IBEX) insider Paul Inson sold 2,274 shares of IBEX stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $40.00, for a total transaction of $90,960.00. Following the sale, the insider directly owned 29,724 shares in the company, valued at approximately $1,188,960. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IBEX Stock Up 0.8%

Shares of IBEX stock opened at $40.80 on Wednesday. The firm has a market cap of $541.82 million, a PE ratio of 13.04 and a beta of 0.72. IBEX Limited has a 52 week low of $25.94 and a 52 week high of $42.40. The business’s fifty day simple moving average is $36.26 and its 200-day simple moving average is $31.97.

IBEX (NASDAQ:IBEX) last announced its earnings results on Thursday, September 10th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $164.27 million during the quarter, compared to analyst estimates of $160.02 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of IBEX from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of IBEX in a research note on Friday, July 31st. Finally, Robert W. Baird upped their price objective on IBEX from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, IBEX currently has an average rating of “Hold” and an average target price of $40.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of IBEX by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after purchasing an additional 24,942 shares during the last quarter. Tieton Capital Management LLC acquired a new stake in IBEX in the second quarter valued at $8,353,000. Hillsdale Investment Management Inc. raised its stake in IBEX by 2.8% in the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock valued at $7,086,000 after buying an additional 7,300 shares in the last quarter. Globeflex Capital L P purchased a new stake in IBEX during the 2nd quarter worth about $3,112,000. Finally, Y Intercept Hong Kong Ltd lifted 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 buying an additional 52,526 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

About IBEX

IBEX Limited (NASDAQ: IBEX) is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company’s services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.