Jacobs Levy Equity Management Inc. Has $2.83 Million Stock Position in IBEX Limited $IBEX

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in IBEX Limited by 73.1% during the 1st quarter, owning a total of 116,395 shares worth approximately $2.83 million.
• Insider selling was reported as Director Mohammedulla Khaishgi sold 5,000 shares and CEO Robert Thomas Dechant sold 4,376 shares, indicating a decrease in their ownership positions.
• IBEX stock is currently down 1.0% and has market metrics showing a beta of 0.77, with a price-to-earnings ratio of 12.81.

Jacobs Levy Equity Management Inc. lifted its holdings in IBEX Limited (NASDAQ:IBEX - Free Report) by 73.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 116,395 shares of the company's stock after purchasing an additional 49,167 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.88% of IBEX worth $2,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bridgeway Capital Management LLC acquired a new position in shares of IBEX in the 1st quarter valued at approximately $3,591,000. AQR Capital Management LLC grew its position in shares of IBEX by 312.6% in the 1st quarter. AQR Capital Management LLC now owns 139,902 shares of the company's stock valued at $3,407,000 after purchasing an additional 105,997 shares during the period. Amundi acquired a new position in shares of IBEX in the 1st quarter valued at approximately $74,000. EP Wealth Advisors LLC acquired a new position in shares of IBEX in the 1st quarter valued at approximately $217,000. Finally, PDT Partners LLC acquired a new position in shares of IBEX in the 1st quarter valued at approximately $363,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada boosted their target price on IBEX from $31.00 to $39.00 and gave the company a "sector perform" rating in a research note on Friday. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $34.50.

Insiders Place Their Bets

In other IBEX news, CEO Robert Thomas Dechant sold 4,376 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $30.00, for a total value of $131,280.00. Following the transaction, the chief executive officer directly owned 193,633 shares of the company's stock, valued at $5,808,990. This represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul Joseph Inson sold 10,000 shares of the company's 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 completion of the transaction, the insider directly owned 7,352 shares in the company, valued at approximately $220,560. This 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 15,000 shares of company stock worth $450,000. Insiders own 6.72% of the company's stock.

IBEX Stock Performance

NASDAQ IBEX traded down $2.89 on Monday, reaching $38.69. The stock had a trading volume of 146,519 shares, compared to its average volume of 166,492. 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 firm has a fifty day moving average of $29.68 and a two-hundred day moving average of $27.53. IBEX Limited has a 1-year low of $17.53 and a 1-year high of $42.99. The company has a market cap of $514.91 million, a P/E ratio of 16.21 and a beta of 0.77.

About IBEX

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.