Victory Capital Management Inc. Has $1.23 Million Stock Holdings in IBEX Limited (NASDAQ:IBEX)

Key Points

• Victory Capital Management Inc. reduced its stake in IBEX Limited by 17.9%, now holding 50,473 shares worth approximately $1.23 million after selling 10,984 shares in the first quarter.
• Multiple institutional investors have adjusted their positions in IBEX, with Russell Investments Group Ltd. increasing its holdings by 8,785.7% in the fourth quarter.
• Analysts have downgraded IBEX's rating, with Baird R W changing its rating from "strong-buy" to "hold" and setting a target price of $30 per share.

Victory Capital Management Inc. reduced its position in IBEX Limited (NASDAQ:IBEX - Free Report) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,473 shares of the company's stock after selling 10,984 shares during the quarter. Victory Capital Management Inc. owned about 0.38% of IBEX worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in IBEX. Russell Investments Group Ltd. grew its stake in shares of IBEX by 8,785.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company's stock valued at $40,000 after acquiring an additional 1,845 shares in the last quarter. Tower Research Capital LLC TRC grew its stake 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 valued at $41,000 after acquiring an additional 1,401 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of IBEX during the fourth quarter valued at about $46,000. Quantbot Technologies LP lifted its position in shares of IBEX by 711.1% during the fourth quarter. Quantbot Technologies LP now owns 2,636 shares of the company's stock worth $57,000 after purchasing an additional 2,311 shares during the last quarter. Finally, CWM LLC lifted its holdings in IBEX by 392.7% in the first quarter. CWM LLC now owns 2,853 shares of the company's stock worth $69,000 after acquiring an additional 2,274 shares during the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on IBEX. Robert W. Baird lowered 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 downgraded shares of IBEX from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th.

Insider Buying and Selling at IBEX

In other news, Director Mohammedulla Khaishgi sold 5,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $28.01, for a total transaction of $140,050.00. Following the completion of the sale, the director owned 2,312 shares of the company's stock, valued at $64,759.12. This represents a 68.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Thomas Dechant sold 4,376 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $30.00, for a total transaction of $131,280.00. Following the sale, the chief executive officer directly owned 193,633 shares of the company's stock, valued at $5,808,990. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,910 shares of company stock valued at $1,874,647. Corporate insiders own 6.72% of the company's stock.

IBEX Price Performance

NASDAQ:IBEX traded down $1.82 on Friday, reaching $27.75. The stock had a trading volume of 138,909 shares, compared to its average volume of 93,764. The company has a market capitalization of $371.02 million, a P/E ratio of 12.12 and a beta of 0.77. IBEX Limited has a 1-year low of $15.17 and a 1-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. The stock has a fifty day moving average price of $29.34 and a 200-day moving average price of $26.37.

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.