IBEX (NASDAQ:IBEX) Insider Sells $592,257.44 in Stock

IBEX Limited (NASDAQ:IBEX) insider Julie Casteel sold 11,677 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $50.72, for a total transaction of $592,257.44. Following the completion of the transaction, the insider owned 100,594 shares in the company, valued at approximately $5,102,127.68. This trade represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

IBEX Stock Down 0.8%

IBEX stock opened at $54.87 on Friday. The stock has a market cap of $731.42 million, a P/E ratio of 16.63 and a beta of 0.74. IBEX Limited has a twelve month low of $25.94 and a twelve month high of $55.77. The company’s 50-day moving average price is $44.18 and its two-hundred day moving average price is $34.80.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings data on Thursday, November 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.20. IBEX had a net margin of 7.34% and a return on equity of 29.10%. The firm had revenue of $175.23 million during the quarter, compared to the consensus estimate of $169.31 million.

Institutional Trading of IBEX

Several hedge funds and other institutional investors have recently bought and sold shares of IBEX. Janney Montgomery Scott LLC boosted its holdings in IBEX by 3.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,358 shares of the company’s stock valued at $439,000 after purchasing an additional 495 shares during the period. Bullock Wealth Management Group bought a new position in shares of IBEX during the third quarter worth approximately $36,000. Allspring Global Investments Holdings LLC increased its holdings in shares of IBEX by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 28,660 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,125 shares during the period. Signaturefd LLC increased its holdings in shares of IBEX by 272.4% during the third quarter. Signaturefd LLC now owns 1,784 shares of the company’s stock worth $77,000 after purchasing an additional 1,305 shares during the period. Finally, Ieq Capital LLC raised its position in shares of IBEX by 11.8% in the third quarter. Ieq Capital LLC now owns 14,638 shares of the company’s stock valued at $633,000 after buying an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IBEX. Wall Street Zen raised IBEX from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Royal Bank Of Canada upped their price objective on IBEX from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Robert W. Baird upped their price objective on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.50.

About IBEX

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.