IBEX (NASDAQ:IBEX) COO David Martin Afdahl Sells 10,819 Shares

Key Points

• IBEX COO David Afdahl sold 10,819 shares at an average price of $40.07, totaling $433,517.33. The transaction was made under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 7.73% to 129,187 shares.
• IBEX shares rose 0.8% to $40.80, near their 12-month high of $42.40. The company recently exceeded quarterly expectations, reporting $0.85 in EPS and $164.27 million in revenue.
• Analysts maintain a consensus “Hold” rating with a $40 price target, while institutional investors own 81.24% of IBEX’s outstanding stock.

IBEX Limited (NASDAQ:IBEX - Get Free Report) COO David Afdahl sold 10,819 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $40.07, for a total transaction of $433,517.33. Following the sale, the chief operating officer directly owned 129,187 shares in the company, valued at $5,176,523.09. This represents a 7.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Martin Afdahl also recently made the following trade(s):

• On Tuesday, September 8th, David Afdahl sold 17,500 shares of IBEX stock. The stock was sold at an average price of $37.09, for a total value of $649,075.00.

IBEX Stock Up 0.8%

IBEX traded up $0.31 during trading on Tuesday, hitting $40.80. The company's stock had a trading volume of 386,897 shares, compared to its average volume of 124,214. The firm's 50 day moving average price is $36.11 and its two-hundred day moving average price is $31.88. The stock has a market capitalization of $541.78 million, a price-to-earnings ratio of 13.04 and a beta of 0.72. IBEX Limited has a 12 month low of $25.94 and a 12 month high of $42.40.

IBEX (NASDAQ:IBEX - Get Free Report) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. IBEX had a return on equity of 28.96% and a net margin of 7.19%.The business had revenue of $164.27 million during the quarter, compared to analysts' expectations of $160.02 million.

Analysts Set New Price Targets

Several research analysts recently weighed in on IBEX shares. Wall Street Zen cut shares of IBEX from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Robert W. Baird increased their price objective on IBEX from $35.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of IBEX in a research note on Friday, July 31st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, IBEX has a consensus rating of "Hold" and a consensus price target of $40.00.

Institutional Investors Weigh In On IBEX

Several institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC lifted its holdings in IBEX by 159.1% in the fourth quarter. Clearstead Advisors LLC now owns 2,635 shares of the company's stock valued at $101,000 after buying an additional 1,618 shares during the period. Sargent Investment Group LLC acquired a new position in shares of IBEX in the 4th quarter valued at $249,000. Evolve Private Wealth LLC boosted its position in shares of IBEX by 5.7% in the 1st quarter. Evolve Private Wealth LLC now owns 10,280 shares of the company's stock worth $276,000 after purchasing an additional 555 shares during the last quarter. Valued Retirements Inc. bought a new position in IBEX during the fourth quarter worth about $289,000. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in shares of IBEX by 33.0% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company's stock worth $321,000 after buying an additional 2,625 shares during the period. Institutional investors and hedge funds own 81.24% of the company's stock.

IBEX Company Profile

IBEX Limited NASDAQ: IBEX is a global business process outsourcing and customer experience company. It provides digitally enabled customer support and operational services for brands across industries including e-commerce, health and fitness, fintech, logistics, retail, travel and utilities.

The company's services include customer care, technical support, sales and customer acquisition, back-office processing, trust and safety, and other specialized business support functions. IBEX combines contact center personnel, analytics, automation and artificial intelligence-enabled tools to help clients manage customer interactions across voice, digital and other communication channels.

IBEX serves clients primarily in North America and other international markets through delivery operations in locations including the United States, the Philippines, Jamaica, Nicaragua and Pakistan.

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