Insider Selling: IBEX (NASDAQ:IBEX) Insider Sells 350 Shares of Stock

Key Points

• IBEX Limited insider Bruce Neil Dawson sold 350 shares for $10,195.50, resulting in a 6.24% decrease in his holdings.
• The stock reached $38.85 after a 6.6% decline during trading, with a market capitalization of $517.09 million.
• Royal Bank Of Canada raised its target price on IBEX from $31.00 to $39.00, maintaining a "sector perform" rating.

IBEX Limited (NASDAQ:IBEX - Get Free Report) insider Bruce Neil Dawson sold 350 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $29.13, for a total value of $10,195.50. Following the transaction, the insider owned 5,257 shares in the company, valued at approximately $153,136.41. This represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

IBEX Trading Down 6.6%

NASDAQ:IBEX traded down $2.73 during mid-day trading on Monday, reaching $38.85. 539,367 shares of the company's stock traded hands, compared to its average volume of 162,503. IBEX Limited has a 12-month low of $17.53 and a 12-month high of $42.99. The firm has a market capitalization of $517.09 million, a price-to-earnings ratio of 16.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.82 and a quick ratio of 1.82. The company has a 50 day moving average price of $29.68 and a 200-day moving average price of $27.53.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada increased their target price on IBEX from $31.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Friday. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $34.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its stake in IBEX by 73.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 116,395 shares of the company's stock valued at $2,834,000 after buying an additional 49,167 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in IBEX during the first quarter valued at $217,000. Allspring Global Investments Holdings LLC raised its stake in IBEX by 19.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 40,856 shares of the company's stock valued at $995,000 after buying an additional 6,526 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in IBEX by 4.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 63,832 shares of the company's stock valued at $1,372,000 after buying an additional 2,542 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in IBEX by 132.5% during the first quarter. Cubist Systematic Strategies LLC now owns 91,059 shares of the company's stock valued at $2,217,000 after buying an additional 51,886 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

IBEX Company Profile

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.

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