Wellington Management Group LLP Sells 258,621 Shares of IBEX Limited (NASDAQ:IBEX)

Wellington Management Group LLP cut its stake in IBEX Limited (NASDAQ:IBEX) by 33.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521,375 shares of the company’s stock after selling 258,621 shares during the period. Wellington Management Group LLP owned 3.11% of IBEX worth $10,417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of IBEX. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 3,759 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in IBEX by 6.1% in the 2nd 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 during the last quarter. Victory Capital Management Inc. increased its stake in shares of IBEX by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 55,207 shares of the company’s stock valued at $893,000 after buying an additional 3,084 shares during the period. American Century Companies Inc. raised its position in shares of IBEX by 4.3% during the second quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after acquiring an additional 55,216 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of IBEX during the second quarter valued at $38,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IBEX 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 directly owns 5,375,114 shares of the company’s stock, valued at approximately $107,771,035.70. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shuja Keen sold 17,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $20.27, for a total value of $344,590.00. Following the sale, the director now directly owns 71,110 shares in the company, valued at approximately $1,441,399.70. This represents a 19.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 451,329 shares of company stock worth $9,021,471. Company insiders own 6.72% of the company’s stock.

IBEX Trading Down 1.1 %

NASDAQ IBEX opened at $20.07 on Monday. IBEX Limited has a 12 month low of $13.00 and a 12 month high of $21.63. The company has a market capitalization of $336.47 million, a PE ratio of 10.62 and a beta of 0.80. The stock has a 50-day simple moving average of $19.48 and a 200 day simple moving average of $17.85.

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 business had revenue of $124.53 million for the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.54%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBEX. Robert W. Baird lifted their price objective on IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.25.

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.