IBEX (NASDAQ:IBEX) Stock: Insider Julie Casteel Sells 11,677 Shares

Key Points

• IBEX insider Julie Casteel sold 11,677 shares at an average price of $50.72, totaling about $592,257. She retained 100,594 shares after the sale.
• IBEX shares rose 3.9% to $52.23 on Tuesday, while the company’s latest quarterly results beat estimates: EPS was $1.10 versus $0.90 expected, and revenue was $175.23 million versus $169.31 million expected.
• Analysts’ consensus rating remained Hold, with an average price target of $44.50.

IBEX Limited (NASDAQ:IBEX - Get Free Report) insider Julie Casteel sold 11,677 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $50.72, for a total transaction of $592,257.44. Following the transaction, the insider owned 100,594 shares in the company, valued at approximately $5,102,127.68. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

IBEX Stock Up 3.9%

NASDAQ IBEX traded up $1.95 during trading hours on Tuesday, hitting $52.23. 432,801 shares of the stock were exchanged, compared to its average volume of 124,838. The company has a market cap of $696.75 million, a price-to-earnings ratio of 15.83 and a beta of 0.74. IBEX Limited has a 12-month low of $25.94 and a 12-month high of $52.29. The stock has a 50-day moving average of $43.25 and a 200 day moving average of $34.57.

IBEX (NASDAQ:IBEX - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.20. IBEX had a return on equity of 28.96% and a net margin of 7.19%. The company had revenue of $175.23 million for the quarter, compared to analyst estimates of $169.31 million.

Institutional Trading of IBEX

A number of institutional investors have recently added to or reduced their stakes in IBEX. Dimensional Fund Advisors LP grew its position in IBEX by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company's stock worth $9,607,000 after buying an additional 24,942 shares during the period. Tieton Capital Management LLC purchased a new position in IBEX in the second quarter valued at about $8,353,000. Hillsdale Investment Management Inc. increased its holdings in IBEX by 2.8% in the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company's stock valued at $7,086,000 after buying an additional 7,300 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of IBEX by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company's stock valued at $8,999,000 after acquiring an additional 6,932 shares during the period. Finally, Globeflex Capital L P acquired a new stake in shares of IBEX during the 2nd quarter valued at approximately $3,112,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IBEX. Weiss Ratings upgraded IBEX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 12th. Wall Street Zen raised IBEX from a "buy" rating to a "strong-buy" rating in a report on Saturday. Robert W. Baird increased their price objective on IBEX from $40.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, September 28th. Finally, Royal Bank Of Canada increased their price objective on IBEX from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $44.50.

About IBEX

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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