Resource Group International Ltd Buys New Stake in IBEX Limited (NASDAQ:IBEX)

Resource Group International Ltd bought a new stake in shares of IBEX Limited (NASDAQ:IBEX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,468,915 shares of the company's stock, valued at approximately $103,964,000. IBEX comprises approximately 100.0% of Resource Group International Ltd's portfolio, making the stock its largest holding. Resource Group International Ltd owned 31.13% of IBEX as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in IBEX by 20.9% during the third quarter. American Century Companies Inc. now owns 1,238,785 shares of the company's stock valued at $19,139,000 after acquiring an additional 214,484 shares during the last quarter. Wellington Management Group LLP lifted its position in IBEX by 16.6% during the third quarter. Wellington Management Group LLP now owns 719,196 shares of the company's stock valued at $11,112,000 after acquiring an additional 102,500 shares during the last quarter. BlackRock Inc. increased its stake in IBEX by 28.6% during the 2nd quarter. BlackRock Inc. now owns 581,454 shares of the company's stock valued at $12,344,000 after purchasing an additional 129,234 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in IBEX by 3.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 575,000 shares of the company's stock valued at $14,289,000 after purchasing an additional 18,663 shares in the last quarter. Finally, Circumference Group LLC acquired a new position in IBEX during the 4th quarter valued at approximately $7,842,000. Hedge funds and other institutional investors own 81.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TheStreet lowered shares of IBEX from a "b-" rating to a "c+" rating in a research note on Wednesday, March 6th. Piper Sandler restated a "neutral" rating and set a $17.00 price target on shares of IBEX in a research note on Friday, February 9th. Finally, Truist Financial cut their price target on shares of IBEX from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $19.80.

IBEX Stock Up 1.5 %

Shares of NASDAQ:IBEX traded up $0.21 during midday trading on Tuesday, reaching $14.42. The company's stock had a trading volume of 38,524 shares, compared to its average volume of 68,584. The firm has a market capitalization of $253.36 million, a PE ratio of 9.18 and a beta of 0.62. IBEX Limited has a twelve month low of $11.45 and a twelve month high of $25.00. The stock has a fifty day moving average of $15.49 and a 200 day moving average of $16.73.

IBEX (NASDAQ:IBEX - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.10). The business had revenue of $132.63 million during the quarter, compared to analyst estimates of $137.38 million. IBEX had a return on equity of 20.10% and a net margin of 5.79%. Sell-side analysts anticipate that IBEX Limited will post 1.82 earnings per share for the current fiscal year.

Insider Activity at IBEX

In related news, insider Jeffrey Hays Cox sold 9,383 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.05, for a total transaction of $150,597.15. Following the sale, the insider now owns 385,251 shares in the company, valued at $6,183,278.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 20.80% of the stock is owned by company insiders.

IBEX 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.