IBEX (NASDAQ:IBEX) Trading Down 4.5% on Insider Selling

Key Points

• The stock price of IBEX Limited decreased by 4.5% on Monday, closing at $39.73, with trading volume down 71% from the average.
• Royal Bank of Canada raised its price target for IBEX from $31.00 to $39.00, and the stock holds an average rating of "Hold" with a consensus target price of $34.50.
• Insider trading saw significant sales, with Paul Joseph Inson selling 10,000 shares for $300,000, indicating a 57.63% decrease in ownership.

IBEX Limited (NASDAQ:IBEX - Get Free Report) dropped 4.5% during trading on Monday following insider selling activity. The stock traded as low as $40.63 and last traded at $39.73. Approximately 47,398 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 166,109 shares. The stock had previously closed at $41.58.

Specifically, insider Paul Joseph Inson sold 3,831 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $38.94, for a total transaction of $149,179.14. Following the completion of the transaction, the insider directly owned 3,266 shares of the company's stock, valued at approximately $127,178.04. This represents a 53.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Thomas Dechant sold 1,634 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $29.13, for a total value of $47,598.42. Following the transaction, the chief executive officer owned 191,999 shares of the company's stock, 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 boosted their price objective on IBEX from $31.00 to $39.00 and gave the company a "sector perform" rating in a research report on Friday, September 12th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $34.50.

IBEX Stock Performance

The company has a market cap of $544.91 million, a P/E ratio of 17.07 and a beta of 0.77. 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 company has a 50 day moving average price of $30.45 and a 200-day moving average price of $27.91.

Hedge Funds Weigh In On IBEX

Several large investors have recently bought and sold shares of IBEX. BNP Paribas Financial Markets acquired a new stake in shares of IBEX in the 4th quarter worth approximately $825,000. Bank of America Corp DE increased its stake in shares of IBEX by 206.9% during the fourth quarter. Bank of America Corp DE now owns 39,787 shares of the company's stock valued at $855,000 after acquiring an additional 26,822 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of IBEX by 4.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 63,832 shares of the company's stock valued at $1,372,000 after acquiring an additional 2,542 shares during the period. Deutsche Bank AG acquired a new position in shares of IBEX during the fourth quarter valued at approximately $46,000. Finally, Man Group plc acquired a new position in shares of IBEX during the fourth quarter valued at approximately $777,000. Institutional investors and hedge funds own 81.24% of the company's stock.

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.