Insider Selling: IBEX (NASDAQ:IBEX) Insider Sells $354,805.62 in Stock

Key Points

• IBEX insider Paul Inson sold 6,994 shares at an average price of $50.73, worth about $354,806. The sale reduced his holdings by 20.85%, leaving him with 26,550 shares.
• IBEX shares traded at $52.23, near their one-year high of $52.29. The company’s latest quarterly results beat estimates, reporting earnings of $1.10 per share and revenue of $175.23 million.
• Analysts’ consensus rating is Hold, with an average price target of $44.50; institutional investors own 81.24% of the stock.

IBEX Limited (NASDAQ:IBEX - Get Free Report) insider Paul Inson sold 6,994 shares of the firm's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $50.73, for a total value of $354,805.62. Following the completion of the transaction, the insider owned 26,550 shares of the company's stock, valued at $1,346,881.50. This trade represents a 20.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Paul Joseph Inson also recently made the following trade(s):

• On Wednesday, September 16th, Paul Inson sold 2,500 shares of IBEX stock. The stock was sold at an average price of $40.07, for a total value of $100,175.00.
• On Monday, September 14th, Paul Inson sold 2,274 shares of IBEX stock. The stock was sold at an average price of $40.00, for a total value of $90,960.00.

IBEX Price Performance

IBEX stock traded up $1.95 during trading hours on Tuesday, hitting $52.23. 432,801 shares of the stock traded hands, compared to its average volume of 124,838. The firm's 50 day moving average price is $43.25 and its 200-day moving average price is $34.57. The stock has a market capitalization of $696.75 million, a price-to-earnings ratio of 15.83 and a beta of 0.74. IBEX Limited has a 1 year low of $25.94 and a 1 year high of $52.29.

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 business had revenue of $175.23 million for the quarter, compared to analyst estimates of $169.31 million.

Institutional Investors Weigh In On IBEX

Several hedge funds have recently added to or reduced their stakes in IBEX. Virtus Advisers LLC grew its position in 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 purchasing an additional 3,645 shares during the period. Russell Investments Group Ltd. raised its stake in shares of IBEX by 370.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,361 shares of the company's stock valued at $623,000 after buying an additional 11,309 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of IBEX by 10.0% in the 3rd quarter. Ritholtz Wealth Management now owns 60,230 shares of the company's stock valued at $2,606,000 after buying an additional 5,480 shares during the period. D Orazio & Associates Inc. acquired a new position in shares of IBEX in the 3rd quarter valued at about $213,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of IBEX by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,660 shares of the company's stock valued at $1,240,000 after buying an additional 1,125 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of IBEX from a "buy" rating to a "strong-buy" rating in a report on Saturday. Royal Bank Of Canada raised their price target on shares of IBEX from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Weiss Ratings upgraded shares of IBEX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 12th. Finally, Robert W. Baird lifted their price objective on shares of IBEX from $40.00 to $44.00 and gave the company 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 company's stock. Based on data from MarketBeat.com, IBEX presently 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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