Russell Investments Group Ltd. Acquires 15,567 Shares of IBEX Limited $IBEX

Key Points

• Russell Investments Group Ltd. significantly increased its stake in IBEX Limited by 834.2% during the first quarter, owning 17,433 shares worth $425,000 by the end of the reporting period.
• Several analysts have recently downgraded IBEX's stock rating, with a consensus rating of "Hold" and an average target price of $27.00.
• Insider trading activity included CEO Robert Thomas Dechant selling 4,376 shares, reducing his ownership stake by 2.21%.

Russell Investments Group Ltd. raised its position in IBEX Limited (NASDAQ:IBEX - Free Report) by 834.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 17,433 shares of the company's stock after acquiring an additional 15,567 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of IBEX worth $425,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in 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 acquiring an additional 6,526 shares during the period. Voya Investment Management LLC acquired a new stake in IBEX in the fourth quarter valued at approximately $205,000. D. E. Shaw & Co. Inc. grew its stake in 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 acquiring an additional 2,542 shares during the period. Bank of America Corp DE grew its stake in IBEX by 206.9% in the fourth quarter. Bank of America Corp DE now owns 39,787 shares of the company's stock valued at $855,000 after acquiring an additional 26,822 shares during the period. Finally, New York State Common Retirement Fund grew its stake in IBEX by 112.9% in the first quarter. New York State Common Retirement Fund now owns 25,077 shares of the company's stock valued at $611,000 after acquiring an additional 13,300 shares during the period. Institutional investors and hedge funds own 81.24% of the company's stock.

Wall Street Analysts Forecast Growth

IBEX has been the topic of a number of recent research reports. Robert W. Baird lowered IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 target price on the stock. in a report on Monday, May 12th. Baird R W lowered IBEX from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $27.00.

Insider Buying and Selling

In related news, insider Paul Joseph Inson sold 10,000 shares of IBEX stock in a transaction on Friday, August 22nd. The stock was 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 approximately $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 can be accessed through this link. Also, Director Mohammedulla Khaishgi sold 5,000 shares of IBEX stock in a transaction on Monday, June 16th. The stock was sold at an average price of $28.01, for a total value of $140,050.00. Following the sale, the director owned 2,312 shares in the company, valued at $64,759.12. This trade represents a 68.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,220 shares of company stock worth $2,069,150. 6.72% of the stock is owned by company insiders.

IBEX Stock Performance

IBEX stock traded down $0.05 during mid-day trading on Friday, reaching $29.36. 72,218 shares of the company's stock were exchanged, compared to its average volume of 77,051. The business's fifty day simple moving average is $29.46 and its 200 day simple moving average is $27.30. The firm has a market capitalization of $392.54 million, a PE ratio of 12.82 and a beta of 0.77. IBEX Limited has a one year low of $16.35 and a one year 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.

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.