Robert Thomas Dechant Sells 25,000 Shares of IBEX (NASDAQ:IBEX) Stock

Key Points

• CEO Robert Dechant sold 25,000 IBEX shares at an average price of $39.99, generating approximately $999,750. Following the transaction, he retained 262,011 shares, an 8.71% reduction in his position.
• IBEX shares recently traded at $40.28, near the company’s 52-week high of $42.40, while the company reported quarterly earnings of $0.85 per share and revenue of $164.27 million—both slightly above analyst expectations.
• Analyst sentiment remains cautious, with an average rating of “Hold” and a consensus price target of $40.00. Institutional investors own approximately 81.24% of IBEX’s outstanding shares.

IBEX Limited (NASDAQ:IBEX - Get Free Report) CEO Robert Dechant sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $39.99, for a total transaction of $999,750.00. Following the sale, the chief executive officer directly owned 262,011 shares of the company's stock, valued at approximately $10,477,819.89. The trade was a 8.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

IBEX Price Performance

Shares of IBEX traded down $0.52 on Wednesday, hitting $40.28. The company's stock had a trading volume of 291,941 shares, compared to its average volume of 125,513. The company has a market capitalization of $534.92 million, a PE ratio of 12.87 and a beta of 0.72. IBEX Limited has a fifty-two week low of $25.94 and a fifty-two week high of $42.40. The company has a 50 day moving average price of $36.26 and a 200 day moving average price of $31.97.

IBEX (NASDAQ:IBEX - Get Free Report) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.85 earnings per share 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 firm had revenue of $164.27 million during the quarter, compared to analysts' expectations of $160.02 million.

Institutional Investors Weigh In On IBEX

Several hedge funds and other institutional investors have recently made changes to their positions in IBEX. Janney Montgomery Scott LLC grew its stake in IBEX by 3.1% in the first quarter. Janney Montgomery Scott LLC now owns 16,358 shares of the company's stock valued at $439,000 after acquiring an additional 495 shares during the period. Evolve Private Wealth LLC raised its position in shares of IBEX by 5.7% during the first 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 period. Legato Capital Management LLC raised its position in shares of IBEX by 9.7% during the fourth quarter. Legato Capital Management LLC now owns 18,326 shares of the company's stock worth $700,000 after purchasing an additional 1,618 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of IBEX by 159.1% during the 4th quarter. Clearstead Advisors LLC now owns 2,635 shares of the company's stock valued at $101,000 after purchasing an additional 1,618 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings 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 valued at $321,000 after purchasing an additional 2,625 shares in the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Robert W. Baird lifted their price target on IBEX from $35.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, September 11th. Weiss Ratings restated a "hold (c+)" rating on shares of IBEX in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of IBEX from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, IBEX currently has an average rating of "Hold" and a consensus target price of $40.00.

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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