Ritholtz Wealth Management Buys 12,874 Shares of IBEX Limited $IBEX

Key Points

• Ritholtz Wealth Management increased its holdings in IBEX Limited by 16.2% in Q2, acquiring 12,874 shares and now owning approximately 0.69% of the company.
• IBEX Limited's shares opened at $36.60 with a market cap of $487.15 million, boasting a twelve-month low of $17.53 and a high of $42.99.
• Insider sales were reported, including CEO Robert Thomas Dechant selling 45,027 shares valued at over $1.75 million, reducing his ownership by 19%.

Ritholtz Wealth Management raised its stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 16.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,556 shares of the company's stock after acquiring an additional 12,874 shares during the quarter. Ritholtz Wealth Management owned approximately 0.69% of IBEX worth $2,693,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its holdings in shares of IBEX by 121.1% during the first quarter. Acadian Asset Management LLC now owns 411,466 shares of the company's stock valued at $10,011,000 after acquiring an additional 225,380 shares during the period. Bridgeway Capital Management LLC bought a new position in shares of IBEX during the first quarter valued at $3,591,000. AQR Capital Management LLC lifted its holdings in shares of IBEX by 312.6% during the first quarter. AQR Capital Management LLC now owns 139,902 shares of the company's stock valued at $3,407,000 after acquiring an additional 105,997 shares during the period. Trexquant Investment LP lifted its holdings in shares of IBEX by 51.1% during the first quarter. Trexquant Investment LP now owns 122,633 shares of the company's stock valued at $2,986,000 after acquiring an additional 41,476 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of IBEX by 73.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 116,395 shares of the company's stock valued at $2,834,000 after acquiring an additional 49,167 shares during the period. 81.24% of the stock is owned by institutional investors.

IBEX Stock Performance

Shares of NASDAQ:IBEX opened at $36.60 on Thursday. IBEX Limited has a twelve month low of $17.53 and a twelve month high of $42.99. The firm has a market cap of $487.15 million, a PE ratio of 15.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.82. The business has a fifty day moving average of $34.11 and a 200-day moving average of $29.77.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBEX. Weiss Ratings reissued a "hold (c+)" rating on shares of IBEX in a report on Wednesday, October 8th. Royal Bank Of Canada raised 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, September 12th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $34.50.

Insider Transactions at IBEX

In related news, CEO Robert Thomas Dechant sold 45,027 shares of IBEX stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $38.89, for a total value of $1,751,100.03. Following the completion of the sale, the chief executive officer directly owned 191,999 shares in the company, valued at $7,466,841.11. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Taylor C. Greenwald sold 2,295 shares of IBEX stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $40.73, for a total value of $93,475.35. Following the completion of the sale, the chief financial officer owned 33,561 shares of the company's stock, valued at approximately $1,366,939.53. The trade was a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,315 shares of company stock valued at $3,036,165. 6.72% of the stock is currently owned by 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.

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