Algert Global LLC Acquires 11,933 Shares of IBEX Limited $IBEX

Key Points

• Algert Global LLC increased its stake in IBEX Limited by 104.2% in Q1, acquiring 11,933 shares to total 23,383 shares valued at approximately $569,000.
• Multiple institutional investors, including Wellington Management Group and Dimensional Fund Advisors, also boosted their holdings in IBEX during the fourth quarter, indicating strong institutional support, with 81.24% of the stock now owned by institutional investors.
• IBEX shares saw a price increase of 3.7%, with significant insider sales reported, including CEO Robert Thomas Dechant selling 15,000 shares for $434,400.

Algert Global LLC lifted its holdings in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 104.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 23,383 shares of the company's stock after acquiring an additional 11,933 shares during the period. Algert Global LLC owned approximately 0.18% of IBEX worth $569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of IBEX by 4.6% in the 4th quarter. Wellington Management Group LLP now owns 545,175 shares of the company's stock worth $11,716,000 after purchasing an additional 23,800 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of IBEX by 0.9% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of IBEX by 30.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 326,141 shares of the company's stock worth $7,009,000 after purchasing an additional 76,302 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of IBEX by 97.7% in the 4th quarter. Two Sigma Advisers LP now owns 145,700 shares of the company's stock worth $3,131,000 after purchasing an additional 72,000 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of IBEX by 39.1% in the 4th quarter. Two Sigma Investments LP now owns 115,815 shares of the company's stock worth $2,489,000 after purchasing an additional 32,525 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other IBEX news, CEO Robert Thomas Dechant sold 15,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.96, for a total transaction of $434,400.00. Following the completion of the sale, the chief executive officer directly owned 198,633 shares of the company's stock, valued at approximately $5,752,411.68. The trade was a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Joseph Inson sold 10,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the insider directly owned 7,352 shares of the company's stock, valued at $220,560. This represents a 57.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,910 shares of company stock worth $2,174,647 in the last 90 days. Corporate insiders own 6.72% of the company's stock.

IBEX Stock Up 3.7%

Shares of NASDAQ IBEX opened at $30.22 on Friday. The firm's 50-day simple moving average is $29.25 and its 200 day simple moving average is $27.06. The company has a market cap of $404.04 million, a price-to-earnings ratio of 13.20 and a beta of 0.77. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.01. IBEX Limited has a 12-month low of $16.35 and a 12-month high of $32.08.

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.

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