Virtu Financial LLC Buys New Stake in IBEX Limited $IBEX

Key Points

• Virtu Financial LLC has acquired a new stake in IBEX Limited, purchasing 15,233 shares valued at approximately $371,000, representing a 0.12% ownership in the company.
• Research analysts have recently downgraded IBEX's stock ratings, with Robert W. Baird lowering its rating from "outperform" to "neutral" and setting a target price of $30.00.
• Insider trading activity reflects a decrease in ownership, as CEO Robert Thomas Dechant sold 15,000 shares for $434,400, reducing his stake by 7.02%.

Virtu Financial LLC bought a new position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,233 shares of the company's stock, valued at approximately $371,000. Virtu Financial LLC owned 0.12% of IBEX as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in IBEX. JPMorgan Chase & Co. raised its holdings in shares of IBEX by 1,369.6% in the fourth quarter. JPMorgan Chase & Co. now owns 284,292 shares of the company's stock valued at $6,109,000 after acquiring an additional 264,947 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of IBEX by 30.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 326,141 shares of the company's stock valued at $7,009,000 after acquiring an additional 76,302 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of IBEX by 267.2% in the fourth quarter. Walleye Capital LLC now owns 102,220 shares of the company's stock valued at $2,197,000 after acquiring an additional 74,380 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of IBEX by 97.7% in the fourth quarter. Two Sigma Advisers LP now owns 145,700 shares of the company's stock valued at $3,131,000 after acquiring an additional 72,000 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of IBEX in the first quarter valued at about $1,374,000. 81.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IBEX

In other IBEX news, Director Mohammedulla Khaishgi sold 35,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $29.66, for a total transaction of $1,038,100.00. Following the transaction, the director owned 42,312 shares in the company, valued at approximately $1,254,973.92. This represents a 45.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert Thomas Dechant sold 15,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $28.96, for a total transaction of $434,400.00. Following the transaction, the chief executive officer owned 198,633 shares in the company, valued at $5,752,411.68. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,910 shares of company stock worth $1,874,647. 6.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Baird R W lowered IBEX from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird lowered IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 target price for the company. in a report on Monday, May 12th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, IBEX has a consensus rating of "Hold" and an average price target of $27.00.

IBEX Stock Up 1.5%

IBEX stock traded up $0.45 on Tuesday, hitting $29.56. 46,076 shares of the company's stock were exchanged, compared to its average volume of 164,925. IBEX Limited has a 12-month low of $16.31 and a 12-month high of $32.08. The firm has a 50 day moving average price of $29.25 and a two-hundred day moving average price of $26.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market cap of $395.22 million, a P/E ratio of 12.91 and a beta of 0.77.

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.