Arrowstreet Capital Limited Partnership Lowers Position in IBEX Limited $IBEX

Key Points

• Arrowstreet Capital cut its IBEX stake by 74% in the first quarter, selling 68,774 shares and retaining 24,131 shares valued at approximately $647,000. Institutional investors collectively own 81.24% of the company.
• IBEX recently reported quarterly EPS of $0.91, exceeding analyst estimates of $0.86, while revenue of $164.41 million also topped expectations. The company posted a 31.50% return on equity and a 7.53% net margin.
• IBEX shares opened at $37.25, compared with a consensus analyst price target of $40.00; analysts maintain an overall “Hold” rating. Insiders have sold 31,783 shares worth about $989,126 over the last quarter.

Arrowstreet Capital Limited Partnership lessened its stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 74.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,131 shares of the company's stock after selling 68,774 shares during the period. Arrowstreet Capital Limited Partnership owned 0.18% of IBEX worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in IBEX. Advisory Services Network LLC acquired a new stake in IBEX during the 3rd quarter worth approximately $46,000. Empowered Funds LLC acquired a new stake in shares of IBEX in the fourth quarter valued at $84,000. Clearstead Advisors LLC boosted its holdings in IBEX by 159.1% in the fourth quarter. Clearstead Advisors LLC now owns 2,635 shares of the company's stock valued at $101,000 after purchasing an additional 1,618 shares during the period. State of Alaska Department of Revenue grew its stake in IBEX by 418.7% during the 4th quarter. State of Alaska Department of Revenue now owns 2,718 shares of the company's stock worth $103,000 after purchasing an additional 2,194 shares in the last quarter. Finally, Amundi acquired a new position in IBEX during the 1st quarter worth $74,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other IBEX news, insider Julie K. Casteel sold 3,600 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $30.61, for a total transaction of $110,196.00. Following the transaction, the insider owned 117,594 shares of the company's stock, valued at $3,599,552.34. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrick Mcginnis sold 1,030 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $31.69, for a total value of $32,640.70. Following the sale, the director owned 5,833 shares in the company, valued at $184,847.77. The trade was a 15.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 31,783 shares of company stock valued at $989,126. Company insiders own 3.40% of the company's stock.

IBEX Trading Up 0.8%

Shares of IBEX stock opened at $37.25 on Friday. IBEX Limited has a twelve month low of $25.94 and a twelve month high of $42.99. The company has a market capitalization of $498.78 million, a price-to-earnings ratio of 11.64 and a beta of 0.69. The firm has a 50-day moving average price of $32.65 and a 200 day moving average price of $31.26.

IBEX (NASDAQ:IBEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. IBEX had a return on equity of 31.50% and a net margin of 7.53%.The firm had revenue of $164.41 million for the quarter, compared to analyst estimates of $157.00 million.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of IBEX in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.00.

IBEX Company Profile

IBEX Holdings, Inc is a global business process outsourcing (BPO) company that specializes in customer experience solutions for a range of industries, including telecommunications, cable, technology, financial services and e-commerce. The company's core offerings encompass multichannel customer support delivered via voice, email, chat, social media and digital self-service platforms. In addition to front-line contact center services, IBEX provides back-office processing, order management, technical troubleshooting and analytics-driven insights to help clients optimize operational efficiency and customer satisfaction.

Beyond traditional contact center operations, IBEX has built a proprietary technology stack designed to integrate real-time data analytics, workforce management and quality assurance.

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