Jump Financial LLC Acquires 8,913 Shares of IBEX Limited $IBEX

Key Points

• Jump Financial LLC increased its stake in IBEX Limited by 47.3%, acquiring an additional 8,913 shares during the first quarter, bringing its total holdings to 27,762 shares valued at approximately $676,000.
• Institutional investors hold a significant 81.24% of IBEX stock, with notable increases in positions from firms like Martingale Asset Management and Russell Investments Group.
• Insider selling occurred recently, with key executives selling shares at an average price of $30.00, indicating a decrease in their ownership stakes in the company.

Jump Financial LLC raised its holdings in IBEX Limited (NASDAQ:IBEX - Free Report) by 47.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,762 shares of the company's stock after acquiring an additional 8,913 shares during the quarter. Jump Financial LLC owned about 0.21% of IBEX worth $676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Martingale Asset Management L P boosted its position in shares of IBEX by 2.3% during the first quarter. Martingale Asset Management L P now owns 44,723 shares of the company's stock worth $1,089,000 after purchasing an additional 999 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of IBEX during the first quarter worth $443,000. Algert Global LLC boosted its position in shares of IBEX by 104.2% during the first quarter. Algert Global LLC now owns 23,383 shares of the company's stock worth $569,000 after purchasing an additional 11,933 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of IBEX by 834.2% during the first quarter. Russell Investments Group Ltd. now owns 17,433 shares of the company's stock worth $425,000 after purchasing an additional 15,567 shares in the last quarter. Finally, Informed Momentum Co LLC bought a new position in shares of IBEX during the first quarter worth $884,000. 81.24% of the stock is owned by institutional investors.

IBEX Stock Performance

Shares of NASDAQ:IBEX opened at $29.53 on Monday. IBEX Limited has a 12 month low of $16.35 and a 12 month high of $32.08. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.01. The company's fifty day simple moving average is $29.38 and its 200 day simple moving average is $27.22. The firm has a market cap of $394.82 million, a price-to-earnings ratio of 12.90 and a beta of 0.77.

Insider Buying and Selling

In related news, insider Paul Joseph Inson sold 10,000 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider directly owned 7,352 shares in the company, valued at $220,560. This trade represents a 57.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert Thomas Dechant sold 4,376 shares of IBEX stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $30.00, for a total transaction of $131,280.00. Following the completion of the sale, the chief executive officer owned 193,633 shares in the company, valued at $5,808,990. The trade was a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,220 shares of company stock worth $2,069,150 over the last ninety days. Company insiders own 6.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IBEX. Robert W. Baird cut shares of IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 price target on the stock. in a research report on Monday, May 12th. Baird R W cut shares of IBEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, IBEX currently has an average rating of "Hold" and an average target price of $27.00.

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.

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