Insider Selling: IBEX Limited (NASDAQ:IBEX) Major Shareholder Sells $1,584,007.36 in Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $20.12, for a total transaction of $1,584,007.36. Following the sale, the insider now directly owns 1,641,011 shares in the company, valued at $33,017,141.32. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Gem G.P. L.P. Pinebridge II also recently made the following trade(s):

• On Thursday, October 10th, Gem G.P. L.P. Pinebridge II sold 19,642 shares of IBEX stock. The stock was sold at an average price of $19.03, for a total value of $373,787.26.
• On Tuesday, October 8th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.05, for a total transaction of $381,000.00.
• On Wednesday, October 2nd, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.24, for a total value of $384,800.00.
• On Monday, September 30th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.82, for a total transaction of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.89, for a total transaction of $397,800.00.

IBEX Trading Down 2.5 %

IBEX stock opened at $20.60 on Monday. IBEX Limited has a 1-year low of $13.00 and a 1-year high of $21.63. The firm’s fifty day simple moving average is $19.30 and its 200-day simple moving average is $17.30. The company has a market capitalization of $345.36 million, a P/E ratio of 10.90 and a beta of 0.76.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. The company had revenue of $124.53 million during the quarter. IBEX had a return on equity of 22.54% and a net margin of 6.57%.

Analyst Upgrades and Downgrades

IBEX has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. Robert W. Baird upped their price objective on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, IBEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Hedge Funds Weigh In On IBEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of IBEX by 314.5% in the third quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after buying an additional 1,623 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in IBEX during the second quarter valued at about $38,000. Public Employees Retirement System of Ohio bought a new stake in IBEX during the 3rd quarter valued at approximately $68,000. Janus Henderson Group PLC grew its stake in shares of IBEX by 11.9% in the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock worth $347,000 after acquiring an additional 1,842 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new stake in IBEX in the 3rd quarter valued at $371,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

About IBEX

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.