Denali Advisors LLC Raises Position in IBEX Limited (NASDAQ:IBEX)

Denali Advisors LLC lifted its holdings in IBEX Limited (NASDAQ:IBEX - Free Report) by 183.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,718 shares of the company's stock after purchasing an additional 47,756 shares during the quarter. Denali Advisors LLC owned 0.56% of IBEX worth $1,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of IBEX. Segall Bryant & Hamill LLC lifted its holdings in shares of IBEX by 21.4% during the first quarter. Segall Bryant & Hamill LLC now owns 66,072 shares of the company's stock valued at $1,609,000 after purchasing an additional 11,661 shares during the last quarter. CWM LLC raised its holdings in shares of IBEX by 392.7% during the first quarter. CWM LLC now owns 2,853 shares of the company's stock valued at $69,000 after acquiring an additional 2,274 shares during the period. New York State Common Retirement Fund raised its holdings in shares of IBEX by 112.9% during the first quarter. New York State Common Retirement Fund now owns 25,077 shares of the company's stock valued at $611,000 after acquiring an additional 13,300 shares during the period. Alps Advisors Inc. acquired a new stake in shares of IBEX during the first quarter valued at approximately $346,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of IBEX by 30.4% during the first quarter. Bank of New York Mellon Corp now owns 24,700 shares of the company's stock valued at $601,000 after acquiring an additional 5,762 shares during the period. Institutional investors own 81.24% of the company's stock.

Wall Street Analyst Weigh In

IBEX has been the topic of a number of research analyst reports. Baird R W lowered IBEX from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird downgraded IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 target price for the company. in a research report on Monday, May 12th.

IBEX Stock Up 1.7%

Shares of IBEX stock traded up $0.52 on Tuesday, hitting $30.56. 51,530 shares of the stock were exchanged, compared to its average volume of 143,271. IBEX Limited has a fifty-two week low of $15.15 and a fifty-two week high of $32.08. The firm has a market capitalization of $408.52 million, a P/E ratio of 13.35 and a beta of 0.77. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $29.04 and a 200 day moving average of $25.82.

Insider Transactions at IBEX

In other IBEX news, CEO Robert Thomas Dechant sold 15,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.96, for a total value of $434,400.00. Following the sale, the chief executive officer owned 198,633 shares of the company's stock, valued at approximately $5,752,411.68. This trade represents 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, Director Mohammedulla Khaishgi sold 35,000 shares of IBEX stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $29.66, for a total value of $1,038,100.00. Following the transaction, the director directly owned 42,312 shares in the company, valued at $1,254,973.92. The trade was a 45.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,910 shares of company stock worth $1,874,647. Company insiders own 6.72% of the company's stock.

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.