IBEX (NASDAQ:IBEX) Shares Gap Down After Insider Selling

IBEX Limited (NASDAQ:IBEX) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $38.85, but opened at $37.68. IBEX shares last traded at $38.27, with a volume of 43,647 shares.

Specifically, insider Paul Joseph Inson sold 3,831 shares of IBEX stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $38.94, for a total transaction of $149,179.14. Following the completion of the transaction, the insider owned 3,266 shares in the company, valued at approximately $127,178.04. This trade represents a 53.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Thomas Dechant sold 1,634 shares of IBEX stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $29.13, for a total value of $47,598.42. Following the transaction, the chief executive officer owned 191,999 shares of the company’s stock, valued at $5,592,930.87. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted their price target on IBEX from $31.00 to $39.00 and gave the company a “sector perform” rating in a research note on Friday, September 12th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $34.50.

IBEX Trading Up 0.1%

The stock has a market cap of $517.63 million, a PE ratio of 16.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.82. The company’s 50-day moving average price is $30.02 and its 200 day moving average price is $27.70.

Institutional Trading of IBEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its position in IBEX by 8.8% in the second quarter. Lazard Asset Management LLC now owns 42,317 shares of the company’s stock valued at $1,231,000 after purchasing an additional 3,429 shares during the period. Bank of America Corp DE grew its stake in shares of IBEX by 458.2% during the second quarter. Bank of America Corp DE now owns 65,252 shares of the company’s stock worth $1,899,000 after purchasing an additional 53,562 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of IBEX by 4.6% during the second quarter. AQR Capital Management LLC now owns 146,306 shares of the company’s stock worth $4,258,000 after purchasing an additional 6,404 shares in the last quarter. Jane Street Group LLC boosted its stake in IBEX by 13.3% in the second quarter. Jane Street Group LLC now owns 35,170 shares of the company’s stock valued at $1,023,000 after acquiring an additional 4,122 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in IBEX by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,466 shares of the company’s stock valued at $159,000 after acquiring an additional 434 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

IBEX Company 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.