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 following insider selling activity. 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 trading hands.

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

Analysts Set New Price Targets

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 report on Friday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.50.

IBEX Stock Down 2.5%

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's 50 day simple moving average is $29.84 and its 200-day simple moving average is $27.63. The stock has a market capitalization of $504.13 million, a price-to-earnings ratio of 15.95 and a beta of 0.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of IBEX by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,466 shares of the company's stock worth $159,000 after purchasing an additional 434 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of IBEX by 2.3% during the 1st quarter. Martingale Asset Management L P now owns 44,723 shares of the company's stock worth $1,089,000 after purchasing an additional 999 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of IBEX by 9.9% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 15,996 shares of the company's stock worth $465,000 after purchasing an additional 1,438 shares during the last quarter. Rhumbline Advisers increased its stake in shares of IBEX by 11.4% during the 2nd quarter. Rhumbline Advisers now owns 14,320 shares of the company's stock worth $417,000 after purchasing an additional 1,466 shares during the last quarter. Finally, CWM LLC increased its stake in shares of IBEX by 53.3% during the 2nd quarter. CWM LLC now owns 4,373 shares of the company's stock worth $127,000 after purchasing an additional 1,520 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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