IBEX Limited $IBEX Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in IBEX Limited by 30.9%, now holding approximately $9.17 million in shares, after selling 168,700 shares in the first quarter.
• Recent analyst ratings show a consensus of "Hold" for IBEX, with Baird R W downgrading it from "strong-buy" to "hold" and setting a target price of $30.00.
• Insider selling has occurred, with notable transactions marked by a 57.63% decrease in holdings by Paul Joseph Inson, following the sale of 10,000 shares at $30.00 per share.

Wellington Management Group LLP lowered its holdings in shares of IBEX Limited (NASDAQ:IBEX - Free Report) by 30.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 376,475 shares of the company's stock after selling 168,700 shares during the quarter. Wellington Management Group LLP owned 2.85% of IBEX worth $9,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IBEX. Wells Fargo & Company MN lifted its holdings in IBEX by 24.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,024 shares of the company's stock valued at $108,000 after buying an additional 990 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of IBEX by 267.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company's stock valued at $41,000 after purchasing an additional 1,401 shares during the period. Barclays PLC increased its holdings in IBEX by 6.8% during the 4th quarter. Barclays PLC now owns 22,046 shares of the company's stock worth $473,000 after purchasing an additional 1,410 shares during the period. US Bancorp DE bought a new stake in IBEX during the 1st quarter valued at $41,000. Finally, Deutsche Bank AG purchased a new stake in shares of IBEX in the 4th quarter worth $46,000. 81.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other IBEX news, CEO Robert Thomas Dechant sold 4,376 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 193,633 shares of the company's stock, valued at approximately $5,808,990. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Joseph Inson sold 10,000 shares of the firm's 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 transaction, the insider directly owned 7,352 shares of the company's stock, valued at approximately $220,560. This trade represents a 57.63% decrease in their position. 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 quarter. 6.72% of the stock is currently owned by company insiders.

IBEX Price Performance

NASDAQ IBEX remained flat at $29.53 on Monday. 103,441 shares of the company's stock traded hands, compared to its average volume of 83,207. The company has a market capitalization of $394.88 million, a PE ratio of 12.90 and a beta of 0.77. IBEX Limited has a fifty-two week low of $16.35 and a fifty-two week high of $32.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.67 and a current ratio of 1.67. The business has a 50-day moving average of $29.38 and a two-hundred day moving average of $27.22.

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.