Ebix (NASDAQ:EBIX) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Ebix (NASDAQ:EBIX) from a hold rating to a sell rating in a report issued on Monday.

Ebix Trading Down 2.2 %

Shares of NASDAQ:EBIX opened at $16.33 on Monday. Ebix has a 12-month low of $11.74 and a 12-month high of $32.87. The company has a market capitalization of $504.60 million, a PE ratio of 14.98 and a beta of 2.50. The business has a 50 day moving average of $22.67 and a two-hundred day moving average of $19.17.

Ebix (NASDAQ:EBIX) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.21 earnings per share (EPS) for the quarter. Ebix had a return on equity of 7.78% and a net margin of 3.83%. The company had revenue of $118.43 million during the quarter.

Institutional Trading of Ebix

Institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC purchased a new stake in shares of Ebix in the first quarter valued at approximately $42,000. Factorial Partners LLC increased its position in shares of Ebix by 16.7% in the fourth quarter. Factorial Partners LLC now owns 27,900 shares of the technology company’s stock valued at $557,000 after buying an additional 4,000 shares in the last quarter. Banco BTG Pactual S.A. purchased a new stake in shares of Ebix in the fourth quarter valued at approximately $479,000. Virtu Financial LLC purchased a new stake in shares of Ebix in the first quarter valued at approximately $175,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Ebix by 29.1% in the first quarter. Exchange Traded Concepts LLC now owns 30,719 shares of the technology company’s stock valued at $405,000 after buying an additional 6,930 shares in the last quarter. 66.08% of the stock is currently owned by hedge funds and other institutional investors.

About Ebix

Ebix, Inc, together with its subsidiaries, provides on-demand infrastructure software exchanges and e-commerce services to the insurance, financial, travel, cash remittance, and healthcare industries in the United States and internationally. The company develops and deploys insurance and reinsurance exchanges on an on-demand basis using software-as-a-service (SaaS) enterprise solutions in the areas of customer relationship management, front-end and back-end systems, and outsourced administrative and risk compliance solutions.