IBEX (NASDAQ:IBEX) CEO Robert Thomas Dechant Sells 5,000 Shares of Company Stock

Key Points

• CEO Robert Dechant sold 5,000 IBEX shares at an average price of $50.01, totaling $250,050. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 297,448 shares afterward.
• IBEX reported quarterly EPS of $1.10, beating the $0.90 consensus estimate, and revenue of $175.23 million, above expectations of $169.31 million.
• IBEX shares rose 3.9% to $52.23, near their 52-week high. Analysts’ consensus rating was “Hold,” with an average price target of $44.50.

IBEX Limited (NASDAQ:IBEX - Get Free Report) CEO Robert Dechant sold 5,000 shares of the firm's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $50.01, for a total value of $250,050.00. Following the sale, the chief executive officer directly owned 297,448 shares in the company, valued at approximately $14,875,374.48. This represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robert Thomas Dechant also recently made the following trade(s):

• On Friday, September 25th, Robert Dechant sold 5,000 shares of IBEX stock. The shares were sold at an average price of $45.02, for a total value of $225,100.00.
• On Tuesday, September 15th, Robert Dechant sold 25,000 shares of IBEX stock. The shares were sold at an average price of $39.99, for a total value of $999,750.00.

IBEX Stock Up 3.9%

Shares of IBEX traded up $1.95 on Tuesday, hitting $52.23. The company's stock had a trading volume of 432,801 shares, compared to its average volume of 124,838. The firm's fifty day moving average price is $43.25 and its 200-day moving average price is $34.57. IBEX Limited has a fifty-two week low of $25.94 and a fifty-two week high of $52.29. The firm has a market capitalization of $696.75 million, a price-to-earnings ratio of 15.83 and a beta of 0.74.

IBEX (NASDAQ:IBEX - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. The firm had revenue of $175.23 million for the quarter, compared to the consensus estimate of $169.31 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

Hedge Funds Weigh In On IBEX

A number of large investors have recently bought and sold shares of IBEX. Virtus Advisers LLC grew its stake in shares of IBEX by 18.9% during the 3rd quarter. Virtus Advisers LLC now owns 22,920 shares of the company's stock worth $992,000 after acquiring an additional 3,645 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of IBEX by 370.5% in the third quarter. Russell Investments Group Ltd. now owns 14,361 shares of the company's stock valued at $623,000 after purchasing an additional 11,309 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of IBEX by 10.0% in the third quarter. Ritholtz Wealth Management now owns 60,230 shares of the company's stock worth $2,606,000 after purchasing an additional 5,480 shares in the last quarter. D Orazio & Associates Inc. bought a new stake in shares of IBEX in the third quarter worth $213,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of IBEX by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 28,660 shares of the company's stock worth $1,240,000 after purchasing an additional 1,125 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Wall Street Analyst Weigh In

IBEX has been the subject of several research reports. Weiss Ratings raised shares of IBEX from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, October 12th. Royal Bank Of Canada raised their price objective on shares of IBEX from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Tuesday. Wall Street Zen raised shares of IBEX from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Robert W. Baird upped their target price on shares of IBEX from $40.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $44.50.

IBEX Company Profile

IBEX Limited NASDAQ: IBEX is a business process outsourcing and customer experience technology company. It provides customer service, technical support, sales, back-office processing and other digital services for businesses across industries, including communications, healthcare, retail, logistics and financial services. The company combines customer contact centers, digital engagement channels, analytics and artificial intelligence-enabled tools to help clients manage customer interactions and improve operational efficiency.

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