IBEX Limited $IBEX Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its position in IBEX Limited by 31.5%, holding 62,883 shares worth approximately $1.53 million after selling nearly 29,000 shares in Q1.
• Institutional ownership of IBEX stands at 81.24%, with significant increases in stakes from other investors, including Bank of America which increased its holding by 206.9%.
• Royal Bank of Canada raised its price target for IBEX from $31.00 to $39.00, while the stock currently has an average rating of "Hold" with a consensus price target of $34.50.

Goldman Sachs Group Inc. decreased its stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 31.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,883 shares of the company's stock after selling 28,946 shares during the period. Goldman Sachs Group Inc. owned 0.47% of IBEX worth $1,531,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its position in IBEX by 73.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 116,395 shares of the company's stock worth $2,834,000 after buying an additional 49,167 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in IBEX during the first quarter worth $217,000. Allspring Global Investments Holdings LLC grew its position in shares of IBEX by 19.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,856 shares of the company's stock valued at $995,000 after purchasing an additional 6,526 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of IBEX by 4.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 63,832 shares of the company's stock valued at $1,372,000 after purchasing an additional 2,542 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of IBEX by 132.5% in the first quarter. Cubist Systematic Strategies LLC now owns 91,059 shares of the company's stock valued at $2,217,000 after purchasing an additional 51,886 shares during the period. Hedge funds and other institutional investors own 81.24% of the company's stock.

Insider Transactions at IBEX

In other IBEX news, insider Julie K. Casteel sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $39.00, for a total transaction of $195,000.00. Following the sale, the insider owned 25,895 shares in the company, valued at $1,009,905. This represents a 16.18% 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 Christina Al Trofimuk-O'connor sold 844 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $38.50, for a total value of $32,494.00. Following the sale, the insider owned 11,727 shares in the company, valued at $451,489.50. The trade was a 6.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,322 shares of company stock valued at $3,025,482 in the last three months. 6.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lifted their price objective on IBEX from $31.00 to $39.00 and gave the company a "sector perform" rating in a research report on Friday, September 12th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $34.50.

IBEX Stock Down 1.2%

IBEX traded down $0.51 on Tuesday, reaching $41.45. The company's stock had a trading volume of 26,413 shares, compared to its average volume of 171,255. The stock has a market cap of $551.70 million, a price-to-earnings ratio of 17.34 and a beta of 0.77. IBEX Limited has a 1 year low of $17.53 and a 1 year high of $42.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.82 and a quick ratio of 1.82. The business's 50 day moving average is $30.93 and its 200 day moving average is $28.19.

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.