Insider Selling: IBEX (NASDAQ:IBEX) CEO Sells 45,027 Shares of Stock

Key Points

• IBEX CEO Robert Thomas Dechant sold 45,027 shares of the company's stock at an average price of $38.89, totaling approximately $1.75 million, which decreased his ownership by 19%.
• The company's stock traded up 3.2% to $40.15, with a market capitalization of $534.36 million and a price-to-earnings ratio of 16.94.
• Analysts from Royal Bank of Canada increased their price target for IBEX shares from $31.00 to $39.00, maintaining a "sector perform" rating.

IBEX Limited (NASDAQ:IBEX - Get Free Report) CEO Robert Thomas Dechant sold 45,027 shares of IBEX stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $38.89, for a total value of $1,751,100.03. Following the transaction, the chief executive officer owned 191,999 shares in the company, valued at $7,466,841.11. This represents a 19.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Robert Thomas Dechant also recently made the following trade(s):

• On Tuesday, August 26th, Robert Thomas Dechant sold 1,634 shares of IBEX stock. The shares were sold at an average price of $29.13, for a total value of $47,598.42.
• On Thursday, July 3rd, Robert Thomas Dechant sold 4,376 shares of IBEX stock. The shares were sold at an average price of $30.00, for a total value of $131,280.00.
• On Wednesday, July 2nd, Robert Thomas Dechant sold 624 shares of IBEX stock. The stock was sold at an average price of $30.00, for a total value of $18,720.00.

IBEX Stock Down 2.5%

Shares of NASDAQ:IBEX traded down $1.06 on Friday, reaching $40.94. The company had a trading volume of 284,278 shares, compared to its average volume of 216,759. IBEX Limited has a twelve month low of $17.53 and a twelve month high of $42.99. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $544.91 million, a P/E ratio of 17.13 and a beta of 0.77. The stock has a 50-day moving average price of $30.69 and a 200 day moving average price of $28.05.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada boosted their price objective on IBEX from $31.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Friday, September 12th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, IBEX currently has a consensus rating of "Hold" and a consensus target price of $34.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBEX. Acadian Asset Management LLC lifted its holdings in IBEX by 121.1% during the first quarter. Acadian Asset Management LLC now owns 411,466 shares of the company's stock worth $10,011,000 after acquiring an additional 225,380 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in IBEX during the first quarter worth approximately $3,591,000. AQR Capital Management LLC boosted 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 worth $3,407,000 after acquiring an additional 105,997 shares during the period. Nuveen LLC bought a new stake in shares of IBEX during the first quarter worth approximately $2,279,000. Finally, Two Sigma Advisers LP boosted its holdings in shares of IBEX by 97.7% during the fourth quarter. Two Sigma Advisers LP now owns 145,700 shares of the company's stock worth $3,131,000 after acquiring an additional 72,000 shares during the period. 81.24% of the stock is currently owned by institutional investors.

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.