Jacobs Levy Equity Management Inc. Buys 49,167 Shares of 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 position in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 73.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,395 shares of the company's stock after acquiring an additional 49,167 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.88% of IBEX worth $2,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBEX. Tower Research Capital LLC TRC raised its position in shares of IBEX by 267.4% during 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 during the last quarter. Voya Investment Management LLC acquired a new position in shares of IBEX during the fourth quarter worth about $205,000. Algert Global LLC acquired a new position in shares of IBEX during the fourth quarter worth about $246,000. Ameriprise Financial Inc. boosted its position in shares of IBEX by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 510,402 shares of the company's stock worth $10,969,000 after buying an additional 4,777 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in IBEX during the fourth quarter valued at approximately $825,000. Institutional investors own 81.24% of the company's stock.

Insider Activity

In other news, Director Mohammedulla Khaishgi sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Joseph Inson sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the insider owned 7,352 shares in the company, valued at approximately $220,560. This trade represents a 57.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock valued at $590,050 over the last three months. Insiders own 6.72% of the company's stock.

IBEX Stock Performance

Shares of IBEX traded up $11.12 during mid-day trading on Friday, reaching $41.58. The company's stock had a trading volume of 1,471,136 shares, compared to its average volume of 91,608. IBEX Limited has a 1-year low of $17.53 and a 1-year high of $42.99. The stock has a market cap of $556.01 million, a P/E ratio of 17.40 and a beta of 0.77. The business has a 50-day simple moving average of $29.68 and a two-hundred day simple moving average of $27.52. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

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

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.