IBEX (NASDAQ:IBEX) Stock Price Down 4.1% on Insider Selling

IBEX Limited (NASDAQ:IBEX) fell 4.1% on Friday following insider selling activity. The company traded as low as $37.87 and last traded at $37.89. 45,832 shares were traded during trading, a decline of 73% from the average session volume of 170,182 shares. The stock had previously closed at $39.51.

Specifically, insider Christina Al Trofimuk-O’connor sold 1,001 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $39.58, for a total transaction of $39,619.58. Following the transaction, the insider owned 13,954 shares of the company’s stock, valued at approximately $552,299.32. This represents a 6.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Joseph Inson sold 697 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $39.58, for a total value of $27,587.26. Following the transaction, the insider directly owned 4,916 shares in the company, valued at $194,575.28. The trade was a 12.42% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBEX. Royal Bank Of Canada increased their price target on IBEX from $31.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of IBEX in a research report on Saturday, September 27th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.50.

IBEX Stock Performance

The business has a 50-day moving average of $32.80 and a two-hundred day moving average of $29.12. The company has a market cap of $504.72 million, a P/E ratio of 15.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.82 and a quick ratio of 1.82.

Institutional Investors Weigh In On IBEX

Institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in IBEX by 73.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 116,395 shares of the company’s stock worth $2,834,000 after acquiring an additional 49,167 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in IBEX in the first quarter worth about $217,000. Allspring Global Investments Holdings LLC boosted its holdings in IBEX by 19.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,856 shares of the company’s stock worth $995,000 after acquiring an additional 6,526 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in IBEX by 132.5% in the first quarter. Cubist Systematic Strategies LLC now owns 91,059 shares of the company’s stock worth $2,217,000 after acquiring an additional 51,886 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in IBEX by 206.9% in the fourth quarter. Bank of America Corp DE now owns 39,787 shares of the company’s stock worth $855,000 after acquiring an additional 26,822 shares in the last quarter. Institutional investors 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.