Bank of America Corp DE Boosts Stake in IBEX Limited (NASDAQ:IBEX)

Bank of America Corp DE raised its stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 206.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,787 shares of the company's stock after buying an additional 26,822 shares during the quarter. Bank of America Corp DE owned about 0.24% of IBEX worth $855,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of IBEX during the fourth quarter valued at $116,000. Allspring Global Investments Holdings LLC lifted its holdings in IBEX by 11.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 34,330 shares of the company's stock valued at $738,000 after purchasing an additional 3,588 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of IBEX during the 4th quarter worth about $1,411,000. New York State Common Retirement Fund grew its holdings in shares of IBEX by 146.5% during the fourth quarter. New York State Common Retirement Fund now owns 11,777 shares of the company's stock worth $253,000 after buying an additional 7,000 shares in the last quarter. Finally, Denali Advisors LLC purchased a new stake in shares of IBEX during the fourth quarter worth about $558,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Insider Buying and Selling

In other news, insider Paul Joseph Inson sold 3,690 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $28.59, for a total transaction of $105,497.10. Following the completion of the sale, the insider now owns 17,352 shares in the company, valued at approximately $496,093.68. The trade was a 17.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.72% of the stock is currently owned by company insiders.

IBEX Stock Up 1.1%

Shares of NASDAQ:IBEX opened at $29.91 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The firm has a market cap of $399.96 million, a price-to-earnings ratio of 14.04 and a beta of 0.78. The stock's 50-day moving average price is $26.01 and its two-hundred day moving average price is $23.98. IBEX Limited has a 12-month low of $15.15 and a 12-month high of $32.08.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird downgraded shares of IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 price objective on the stock. in a research note on Monday, May 12th. Baird R W lowered IBEX from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th.

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.

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