Charles Schwab Investment Management Inc. Sells 11,789 Shares of IBEX Limited $IBEX

Key Points

• Charles Schwab Investment Management Inc. sold 11,789 shares of IBEX Limited, reducing its ownership by 16.2%, now holding approximately 60,963 shares valued at $1,484,000.
• Several hedge funds have significantly altered their positions, with Tower Research Capital LLC increasing its holdings by 267.4% during the last quarter.
• Analysts have downgraded IBEX's rating to "hold" and set a target price of $30.00, with current consensus rating at a "Hold" status.

Charles Schwab Investment Management Inc. cut its holdings in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,963 shares of the company's stock after selling 11,789 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.46% of IBEX worth $1,484,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IBEX. Dimensional Fund Advisors LP raised its stake in shares of IBEX by 30.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 326,141 shares of the company's stock worth $7,009,000 after buying an additional 76,302 shares during the period. Two Sigma Advisers LP grew its holdings in IBEX by 97.7% during the 4th quarter. Two Sigma Advisers LP now owns 145,700 shares of the company's stock valued at $3,131,000 after buying an additional 72,000 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in IBEX during the 1st quarter valued at approximately $1,374,000. Denali Advisors LLC grew its holdings in IBEX by 183.9% during the 1st quarter. Denali Advisors LLC now owns 73,718 shares of the company's stock valued at $1,795,000 after buying an additional 47,756 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in IBEX by 142.5% during the 1st quarter. Ritholtz Wealth Management now owns 79,682 shares of the company's stock valued at $1,940,000 after buying an additional 46,823 shares in the last quarter. Institutional investors own 81.24% of the company's stock.

IBEX Trading Up 1.6%

Shares of IBEX stock traded up $0.45 on Thursday, reaching $29.38. The company had a trading volume of 42,232 shares, compared to its average volume of 159,611. The firm has a market cap of $392.87 million, a price-to-earnings ratio of 12.88 and a beta of 0.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.67 and a quick ratio of 1.67. The firm's 50-day moving average price is $29.43 and its two-hundred day moving average price is $27.26. IBEX Limited has a 1 year low of $16.35 and a 1 year high of $32.08.

Analyst Upgrades and Downgrades

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

Insider Transactions at IBEX

In other news, Director Mohammedulla Khaishgi sold 5,000 shares of IBEX stock in a transaction on Monday, June 16th. The stock was sold at an average price of $28.01, for a total transaction of $140,050.00. Following the completion of the sale, the director directly owned 2,312 shares in the company, valued at approximately $64,759.12. This trade represents a 68.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Joseph Inson sold 10,000 shares of IBEX stock in a transaction on Friday, August 22nd. The shares were 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 approximately $220,560. This trade represents a 57.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,220 shares of company stock worth $2,069,150. 6.72% of the stock is currently owned by insiders.

IBEX Company 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.