Insider Selling: IBEX (NASDAQ:IBEX) COO Sells 403 Shares of Stock

Key Points

• IBEX Limited COO David Martin Afdahl sold 403 shares for $11,739.39, reducing his ownership by 0.73% to 54,986 shares valued at approximately $1.6 million.
• Royal Bank of Canada has increased its target price for IBEX shares from $31.00 to $39.00, indicating a "sector perform" rating.
• Institutional investors own 81.24% of IBEX's stock, with notable increases in holdings from Ameriprise Financial and Bank of America in the last quarter.

IBEX Limited (NASDAQ:IBEX - Get Free Report) COO David Martin Afdahl sold 403 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $29.13, for a total value of $11,739.39. Following the sale, the chief operating officer owned 54,986 shares in the company, valued at approximately $1,601,742.18. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

IBEX Price Performance

Shares of IBEX traded down $1.06 during trading hours on Friday, reaching $40.94. 284,278 shares of the company traded hands, compared to its average volume of 216,759. The stock has a market capitalization of $544.91 million, a PE ratio of 17.13 and a beta of 0.77. IBEX Limited has a fifty-two week low of $17.53 and a fifty-two week 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 fifty day simple moving average of $30.69 and a 200 day simple moving average of $28.02.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of IBEX by 121.1% in the first quarter. Acadian Asset Management LLC now owns 411,466 shares of the company's stock worth $10,011,000 after purchasing an additional 225,380 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of IBEX in the 1st quarter worth about $3,591,000. AQR Capital Management LLC lifted its holdings in shares of IBEX by 312.6% in the 1st 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 last quarter. Nuveen LLC bought a new stake in IBEX during the 1st quarter valued at about $2,279,000. Finally, Two Sigma Advisers LP lifted its holdings in IBEX by 97.7% during the 4th quarter. Two Sigma Advisers LP now owns 145,700 shares of the company's stock valued at $3,131,000 after buying an additional 72,000 shares in the last quarter. Institutional investors own 81.24% of the company's stock.

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.