Trexquant Investment LP Increases Position in IBEX Limited $IBEX

Key Points

• Trexquant Investment LP increased its stake in IBEX Limited by 51.1%, purchasing an additional 41,476 shares to hold a total of 122,633 shares valued at approximately $2.99 million.
• Insider Paul Joseph Inson sold 10,000 shares of IBEX, reducing their position by 57.63%, while other insiders also sold a total of 70,220 shares in the past ninety days.
• Wall Street analysts have issued a consensus rating of "Hold" for IBEX, with a price target of $27.00, following recent downgrades from "outperform" and "strong-buy".

Trexquant Investment LP grew its position in IBEX Limited (NASDAQ:IBEX - Free Report) by 51.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,633 shares of the company's stock after acquiring an additional 41,476 shares during the period. Trexquant Investment LP owned about 0.93% of IBEX worth $2,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aristides Capital LLC purchased a new position in IBEX during the first quarter valued at approximately $267,000. Jump Financial LLC increased its holdings in shares of IBEX by 47.3% during the first quarter. Jump Financial LLC now owns 27,762 shares of the company's stock valued at $676,000 after acquiring an additional 8,913 shares in the last quarter. Martingale Asset Management L P raised its stake in IBEX by 2.3% in the 1st quarter. Martingale Asset Management L P now owns 44,723 shares of the company's stock valued at $1,089,000 after purchasing an additional 999 shares during the last quarter. EntryPoint Capital LLC purchased a new position in IBEX during the 1st quarter valued at about $443,000. Finally, Algert Global LLC grew its stake in shares of IBEX by 104.2% in the 1st quarter. Algert Global LLC now owns 23,383 shares of the company's stock valued at $569,000 after purchasing an additional 11,933 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

IBEX Stock Up 1.2%

NASDAQ:IBEX traded up $0.37 during mid-day trading on Monday, hitting $29.73. The stock had a trading volume of 47,929 shares, compared to its average volume of 158,734. The company has a market capitalization of $397.42 million, a PE ratio of 12.97 and a beta of 0.77. IBEX Limited has a twelve month low of $16.35 and a twelve month high of $32.08. The stock has a 50-day simple moving average of $29.46 and a two-hundred day simple moving average of $27.31. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.01.

Insider Activity at IBEX

In other IBEX news, Director Mohammedulla Khaishgi sold 35,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $29.66, for a total transaction of $1,038,100.00. Following the transaction, the director owned 42,312 shares in the company, valued at $1,254,973.92. This trade represents a 45.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Joseph Inson sold 10,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, 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. Insiders sold 70,220 shares of company stock valued at $2,069,150 over the last 90 days. 6.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on IBEX. Baird R W cut IBEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Robert W. Baird cut IBEX from an "outperform" rating to a "neutral" rating and set a $30.00 price objective for the company. in a report on Monday, May 12th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $27.00.

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.