AQR Capital Management LLC Sells 54,814 Shares of IBEX Limited (NASDAQ:IBEX)

AQR Capital Management LLC cut its position in IBEX Limited (NASDAQ:IBEX) by 36.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,053 shares of the company’s stock after selling 54,814 shares during the quarter. AQR Capital Management LLC’s holdings in IBEX were worth $1,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of IBEX in the second quarter valued at $38,000. Quadrature Capital Ltd bought a new position in shares of IBEX in the first quarter valued at $349,000. Bank of New York Mellon Corp grew its stake in shares of IBEX by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock valued at $447,000 after buying an additional 3,759 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of IBEX by 6.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock valued at $528,000 after buying an additional 1,874 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in IBEX by 9.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 37,390 shares of the company’s stock worth $577,000 after purchasing an additional 3,191 shares during the period. 81.24% of the stock is owned by institutional investors.

IBEX Trading Up 0.2 %

IBEX stock opened at $19.20 on Friday. IBEX Limited has a one year low of $13.00 and a one year high of $20.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market cap of $330.51 million, a price-to-earnings ratio of 12.55 and a beta of 0.74. The company has a fifty day moving average price of $17.73 and a two-hundred day moving average price of $16.12.

IBEX (NASDAQ:IBEX) last posted its earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. IBEX had a return on equity of 22.04% and a net margin of 6.62%. The company had revenue of $124.53 million during the quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on IBEX. Robert W. Baird lifted their price objective on shares of IBEX from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Royal Bank of Canada lifted their price objective on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, IBEX presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Transactions at IBEX

In other news, Director Gem G.P. L.P. Pinebridge II sold 19,642 shares of IBEX stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $19.03, for a total transaction of $373,787.26. Following the completion of the sale, the director now owns 1,719,739 shares of the company’s stock, valued at approximately $32,726,633.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Group International L. Resource sold 59,269 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $20.05, for a total value of $1,188,343.45. Following the completion of the transaction, the director now owns 5,375,114 shares of the company’s stock, valued at $107,771,035.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gem G.P. L.P. Pinebridge II sold 19,642 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $19.03, for a total value of $373,787.26. Following the transaction, the director now directly owns 1,719,739 shares of the company’s stock, valued at approximately $32,726,633.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,760 shares of company stock valued at $3,681,160. 20.80% of the stock is currently owned by corporate insiders.

IBEX 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.