Insider Selling: IBEX (NASDAQ:IBEX) Insider Sells $90,960.00 in Stock

Key Points

• IBEX insider Paul Inson sold 2,274 shares for $90,960 at an average price of $40.00 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 7.11% to 29,724 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 adjusted earnings per share and $164.27 million in revenue.
• Institutional investors own 81.24% of IBEX, while analyst sentiment remains mixed but generally neutral: the consensus rating is Hold with a $40.00 price target.

IBEX Limited (NASDAQ:IBEX - Get Free Report) insider Paul Inson sold 2,274 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $40.00, for a total transaction of $90,960.00. Following the transaction, the insider owned 29,724 shares of the company's stock, valued at $1,188,960. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IBEX Stock Up 0.8%

Shares of IBEX stock traded up $0.31 during trading hours on Tuesday, hitting $40.80. 386,897 shares of the company's stock traded hands, compared to its average volume of 124,214. The stock has a market cap of $541.78 million, a PE ratio of 13.04 and a beta of 0.72. The stock's 50 day simple moving average is $36.11 and its 200 day simple moving average is $31.88. 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 issued its quarterly earnings data on Thursday, September 10th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $164.27 million for the quarter, compared to analysts' expectations of $160.02 million. IBEX had a net margin of 7.19% and a return on equity of 28.96%.

Institutional Investors Weigh In On IBEX

A number of hedge funds have recently added to or reduced their stakes in IBEX. Pinnacle Wealth Management Advisory Group LLC lifted its stake in IBEX by 33.0% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company's stock valued at $321,000 after buying an additional 2,625 shares during the period. Squarepoint Ops LLC grew its position in shares of IBEX by 6.4% during the 2nd quarter. Squarepoint Ops LLC now owns 84,982 shares of the company's stock worth $2,581,000 after buying an additional 5,127 shares during the period. Globeflex Capital L P acquired a new stake in shares of IBEX during the 2nd quarter worth approximately $3,112,000. Tieton Capital Management LLC bought a new stake in shares of IBEX in the 2nd quarter valued at $8,353,000. Finally, Lazard Asset Management LLC increased its stake in shares of IBEX by 55.2% in the 1st quarter. Lazard Asset Management LLC now owns 89,150 shares of the company's stock valued at $2,391,000 after acquiring an additional 31,697 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

About IBEX

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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