Essex Investment Management Co. LLC Takes $1.37 Million Position in IBEX Limited (NASDAQ:IBEX)

Essex Investment Management Co. LLC acquired a new position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 56,434 shares of the company's stock, valued at approximately $1,374,000. Essex Investment Management Co. LLC owned approximately 0.43% of IBEX at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of IBEX by 8,785.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company's stock valued at $40,000 after purchasing an additional 1,845 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of IBEX by 267.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock worth $41,000 after acquiring an additional 1,401 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of IBEX in the fourth quarter worth $46,000. Quantbot Technologies LP boosted its stake in shares of IBEX by 711.1% in the fourth quarter. Quantbot Technologies LP now owns 2,636 shares of the company's stock valued at $57,000 after purchasing an additional 2,311 shares during the period. Finally, CWM LLC boosted its stake in shares of IBEX by 392.7% in the first quarter. CWM LLC now owns 2,853 shares of the company's stock valued at $69,000 after purchasing an additional 2,274 shares during the period. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analysts Set New Price Targets

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

IBEX Price Performance

Shares of NASDAQ:IBEX traded down $1.82 during trading hours on Friday, hitting $27.75. 138,909 shares of the company's stock traded hands, compared to its average volume of 93,764. IBEX Limited has a 52 week low of $15.17 and a 52 week high of $32.08. The company's fifty day simple moving average is $29.34 and its two-hundred day simple moving average is $26.34. The company has a market cap of $371.02 million, a price-to-earnings ratio of 12.12 and a beta of 0.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.67 and a current ratio of 1.67.

Insiders Place Their Bets

In other IBEX news, Director Mohammedulla Khaishgi sold 35,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $29.66, for a total value of $1,038,100.00. Following the completion of the transaction, the director directly owned 42,312 shares in the company, valued at $1,254,973.92. This trade represents a 45.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Joseph Inson sold 3,690 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $28.59, for a total transaction of $105,497.10. Following the sale, the insider owned 17,352 shares of the company's stock, valued at approximately $496,093.68. This represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,910 shares of company stock worth $1,874,647 over the last ninety days. 6.72% of the stock is currently owned by company 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.