Acadian Asset Management LLC Raises Holdings in 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 grew its position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 121.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,466 shares of the company's stock after purchasing an additional 225,380 shares during the period. Acadian Asset Management LLC owned approximately 3.12% of IBEX worth $10,011,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in IBEX. Ameriprise Financial Inc. lifted its stake in IBEX by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 510,402 shares of the company's stock worth $10,969,000 after purchasing an additional 4,777 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of IBEX during the fourth quarter worth $825,000. Bank of America Corp DE increased its position 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 acquiring an additional 26,822 shares during the period. D. E. Shaw & Co. Inc. increased its position 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 acquiring an additional 2,542 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of IBEX during the fourth quarter worth $46,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upped their price objective on IBEX from $31.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Friday, September 12th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, IBEX has a consensus rating of "Hold" and an average target price of $34.50.

IBEX Stock Up 2.7%

NASDAQ:IBEX traded up $1.09 during trading hours on Thursday, hitting $41.46. The company's stock had a trading volume of 94,051 shares, compared to its average volume of 170,400. The stock has a market capitalization of $551.83 million, a P/E ratio of 17.35 and a beta of 0.77. The stock has a fifty day moving average of $30.21 and a 200-day moving average of $27.79. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. IBEX Limited has a 52-week low of $17.53 and a 52-week high of $42.99.

Insider Transactions at IBEX

In related news, insider Julie K. Casteel sold 5,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $39.00, for a total value of $195,000.00. Following the transaction, the insider owned 25,895 shares of the company's stock, valued at $1,009,905. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bruce Neil Dawson sold 8,879 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $38.15, for a total value of $338,733.85. Following the completion of the transaction, the insider directly owned 4,492 shares in the company, valued at $171,369.80. This trade represents a 66.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,322 shares of company stock valued at $3,025,482 over the last ninety days. Company 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.