IBEX (NASDAQ:IBEX) Trading Down 4.1% After Insider Selling

Key Points

• IBEX Limited's stock price fell by 4.1% after insiders sold shares, with significant trading volume dropping to 45,832 shares, a 73% decline from the average.
• Two insiders sold shares on October 2nd, with Christina Al Trofimuk-O'connor selling 1,001 shares and Paul Joseph Inson selling 697 shares, indicating a decline in their ownership positions.
• Royal Bank Of Canada raised its target price for IBEX from $31.00 to $39.00, maintaining a "sector perform" rating, while analysts generally rate the stock as a "Hold."

IBEX Limited (NASDAQ:IBEX - Get Free Report)'s stock price fell 4.1% during mid-day trading on Friday following insider selling activity. The stock traded as low as $37.87 and last traded at $37.89. 45,832 shares were traded during mid-day trading, a decline of 73% from the average session volume of 170,182 shares. The stock had previously closed at $39.51.

Specifically, insider Christina Al Trofimuk-O'connor sold 1,001 shares of IBEX stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $39.58, for a total transaction of $39,619.58. Following the sale, the insider owned 13,954 shares of the company's stock, valued at approximately $552,299.32. This trade represents a 6.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Joseph Inson sold 697 shares of IBEX stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $39.58, for a total value of $27,587.26. Following the sale, the insider directly owned 4,916 shares in the company, valued at $194,575.28. The trade was a 12.42% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada raised their target price 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $34.50.

IBEX Price Performance

The company has a 50 day moving average price of $32.64 and a 200 day moving average price of $29.03. The company has a market capitalization of $502.59 million, a price-to-earnings ratio of 15.80 and a beta of 0.83. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On IBEX

Several 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 8.0% in the 2nd quarter. Acadian Asset Management LLC now owns 444,377 shares of the company's stock valued at $12,924,000 after buying an additional 32,911 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of IBEX by 0.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 389,234 shares of the company's stock valued at $11,327,000 after buying an additional 1,844 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of IBEX by 18.6% during the second 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 period. Globeflex Capital L P grew its stake in shares of IBEX by 8.7% during the second quarter. Globeflex Capital L P now owns 218,952 shares of the company's stock worth $6,372,000 after purchasing an additional 17,528 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of IBEX during the first quarter worth $3,591,000. 81.24% of the stock is 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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