Acadian Asset Management LLC Purchases 225,380 Shares of IBEX Limited $IBEX

Key Points

• Acadian Asset Management LLC increased its stake in IBEX Limited by 121.1% during the first quarter, acquiring an additional 225,380 shares to hold a total of 411,466 shares valued at approximately $10 million.
• Insider sales have been notable, with CEO Robert Thomas Dechant selling 4,376 shares and another insider, Paul Joseph Inson, selling 10,000 shares, representing significant declines in their ownership positions.
• IBEX's stock price reached $41.58, a significant 36.5% increase, with analysts maintaining a consensus price target of $34.50 and some projecting further growth.

Acadian Asset Management LLC raised its holdings in IBEX Limited (NASDAQ:IBEX - Free Report) by 121.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 411,466 shares of the company's stock after acquiring an additional 225,380 shares during the quarter. Acadian Asset Management LLC owned about 3.12% of IBEX worth $10,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of IBEX by 4.6% in the fourth quarter. Wellington Management Group LLP now owns 545,175 shares of the company's stock worth $11,716,000 after buying an additional 23,800 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of IBEX by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 510,402 shares of the company's stock worth $10,969,000 after buying an additional 4,777 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of IBEX in the first quarter worth $3,591,000. Two Sigma Advisers LP lifted its stake 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 worth $3,131,000 after buying an additional 72,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of IBEX by 312.6% in the first quarter. AQR Capital Management LLC now owns 139,902 shares of the company's stock worth $3,407,000 after buying an additional 105,997 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada boosted their price objective on shares of IBEX from $31.00 to $39.00 and gave the stock a "sector perform" rating in a research note on Friday. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $34.50.

IBEX Stock Performance

IBEX stock traded up $0.04 on Tuesday, reaching $38.89. 434,531 shares of the company were exchanged, compared to its average volume of 170,595. IBEX Limited has a 12 month low of $17.53 and a 12 month high of $42.99. The stock's fifty day moving average price is $29.84 and its 200 day moving average price is $27.63. The firm has a market capitalization of $517.82 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 current ratio of 1.82 and a quick ratio of 1.82.

Insider Buying and Selling at IBEX

In other IBEX news, insider Paul Joseph Inson sold 3,831 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $38.94, for a total value of $149,179.14. Following the sale, the insider owned 3,266 shares of the company's stock, valued at $127,178.04. The trade was a 53.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Thomas Dechant sold 1,634 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $29.13, for a total transaction of $47,598.42. Following the completion of the sale, the chief executive officer directly owned 191,999 shares in the company, valued at $5,592,930.87. This trade represents a 0.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,572 shares of company stock worth $708,154 in the last three months. Insiders own 6.72% of the company's stock.

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.