IBEX (NASDAQ:IBEX) Shares Gap Down on Insider Selling

Key Points

• IBEX Limited's stock price gapped down to $37.68 from a previous close of $38.85 following significant insider selling by Paul Joseph Inson, who sold 3,831 shares.
• Royal Bank of Canada raised its price target on IBEX shares from $31.00 to $39.00, maintaining a "sector perform" rating amidst a consensus rating of "Hold" among analysts.
• IBEX's market capitalization is approximately $504.13 million, with institutional investors holding around 81.24% of the stock, highlighting strong institutional interest.

IBEX Limited (NASDAQ:IBEX - Get Free Report) gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $38.85, but opened at $37.68. IBEX shares last traded at $38.27, with a volume of 43,647 shares changing hands.

Specifically, insider Paul Joseph Inson sold 3,831 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $38.94, for a total transaction of $149,179.14. Following the completion of the sale, the insider directly owned 3,266 shares in the company, valued at approximately $127,178.04. This trade represents a 53.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Thomas Dechant sold 1,634 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 transaction of $47,598.42. Following the completion of the sale, the chief executive officer owned 191,999 shares in the company, valued at $5,592,930.87. This represents a 0.84% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

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

IBEX Trading Down 2.5%

The company has a market cap of $544.91 million, a price-to-earnings ratio of 17.13 and a beta of 0.77. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $30.69 and a 200 day moving average price of $28.02.

Institutional Investors Weigh In On IBEX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of IBEX by 4.6% during the fourth quarter. Wellington Management Group LLP now owns 545,175 shares of the company's stock worth $11,716,000 after buying an additional 23,800 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of IBEX by 8.0% during the 2nd quarter. Acadian Asset Management LLC now owns 444,377 shares of the company's stock valued at $12,924,000 after acquiring an additional 32,911 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in IBEX by 0.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 389,234 shares of the company's stock worth $11,327,000 after purchasing an additional 1,844 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in IBEX by 18.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 260,500 shares of the company's stock worth $7,581,000 after purchasing an additional 40,800 shares during the last quarter. Finally, Globeflex Capital L P raised its position in shares of IBEX by 8.7% in the 2nd quarter. Globeflex Capital L P now owns 218,952 shares of the company's stock worth $6,372,000 after acquiring an additional 17,528 shares in the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

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.