Aristides Capital LLC Buys New Position in IBEX Limited $IBEX

Key Points

• Aristides Capital LLC acquired 10,969 shares of IBEX Limited for approximately $267,000, representing a 0.08% stake in the company.
• Insider selling included CEO Robert Thomas Dechant, who sold 4,376 shares at $30 each, and Director Mohammedulla Khaishgi, who sold 5,000 shares at $28.01, with insiders collectively selling 70,220 shares worth over $2 million in the last ninety days.
• IBEX's stock saw analysts reduce its ratings, with Baird R W lowering it from "strong-buy" to "hold", and setting a target price of $30.00.

Aristides Capital LLC purchased a new stake in IBEX Limited (NASDAQ:IBEX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,969 shares of the company's stock, valued at approximately $267,000. Aristides Capital LLC owned approximately 0.08% of IBEX as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of IBEX by 19.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,856 shares of the company's stock valued at $995,000 after acquiring an additional 6,526 shares during the period. Voya Investment Management LLC acquired a new stake in shares of IBEX during the fourth quarter worth $205,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of IBEX by 4.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 63,832 shares of the company's stock worth $1,372,000 after purchasing an additional 2,542 shares during the period. Bank of America Corp DE lifted its holdings in shares of IBEX by 206.9% during the fourth quarter. Bank of America Corp DE now owns 39,787 shares of the company's stock worth $855,000 after purchasing an additional 26,822 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of IBEX by 112.9% during the first quarter. New York State Common Retirement Fund now owns 25,077 shares of the company's stock worth $611,000 after purchasing an additional 13,300 shares during the period. 81.24% of the stock is owned by institutional investors and hedge funds.

IBEX Stock Performance

NASDAQ:IBEX remained flat at $29.53 during trading hours on Friday. The company's stock had a trading volume of 103,441 shares, compared to its average volume of 84,979. The company has a 50-day moving average price of $29.38 and a 200-day moving average price of $27.22. The firm has a market capitalization of $394.82 million, a P/E ratio of 12.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.67 and a quick ratio of 1.67. IBEX Limited has a 1 year low of $16.35 and a 1 year high of $32.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IBEX shares. Robert W. Baird downgraded IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 price target for the company. in a report on Monday, May 12th. Baird R W downgraded IBEX from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, IBEX presently has a consensus rating of "Hold" and an average target price of $27.00.

Insiders Place Their Bets

In other news, insider Paul Joseph Inson sold 10,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the insider owned 7,352 shares in the company, valued at $220,560. This trade represents a 57.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Thomas Dechant sold 15,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.96, for a total value of $434,400.00. Following the completion of the transaction, the chief executive officer owned 198,633 shares of the company's stock, valued at approximately $5,752,411.68. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,220 shares of company stock worth $2,069,150. 6.72% of the stock is owned by corporate insiders.

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.