IBEX Limited (NASDAQ:IBEX) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its stake in IBEX Limited (NASDAQ:IBEX) by 14.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 529,000 shares of the company’s stock after selling 90,413 shares during the quarter. Royce & Associates LP’s holdings in IBEX were worth $10,569,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of IBEX. Meeder Asset Management Inc. bought a new stake in IBEX in the 2nd quarter valued at about $38,000. Quadrature Capital Ltd bought a new stake in shares of IBEX during the first quarter valued at approximately $349,000. Ritholtz Wealth Management bought a new stake in shares of IBEX during the third quarter valued at approximately $371,000. Bank of New York Mellon Corp boosted its position in shares of IBEX by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $447,000 after buying an additional 3,759 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in IBEX by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock worth $528,000 after buying an additional 1,874 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Buying and Selling at IBEX

In other news, Director Shuja Keen sold 6,086 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $20.46, for a total transaction of $124,519.56. Following the completion of the sale, the director now directly owns 140,024 shares of the company’s stock, valued at $2,864,891.04. This represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gem G.P. L.P. Pinebridge II sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $19.89, for a total value of $397,800.00. Following the sale, the director now owns 1,864,739 shares in the company, valued at approximately $37,089,658.71. The trade was a 1.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 243,373 shares of company stock valued at $4,813,965. 6.72% of the stock is owned by insiders.

IBEX Price Performance

IBEX opened at $19.35 on Friday. The business has a 50 day moving average price of $19.00 and a two-hundred day moving average price of $17.05. The company has a market capitalization of $324.40 million, a price-to-earnings ratio of 10.24 and a beta of 0.76. IBEX Limited has a 1-year low of $13.00 and a 1-year high of $20.56.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. The business had revenue of $124.53 million during the quarter. IBEX had a return on equity of 22.54% and a net margin of 6.57%.

Analysts Set New Price Targets

IBEX has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th. Robert W. Baird lifted their price objective on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

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.