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

IBEX Limited (NASDAQ:IBEX) CEO Robert Dechant sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $39.99, for a total transaction of $999,750.00. Following the completion of the transaction, the chief executive officer owned 262,011 shares of the company’s stock, valued at $10,477,819.89. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

IBEX Trading Down 1.3%

Shares of IBEX stock traded down $0.52 during trading hours on Wednesday, hitting $40.28. 291,941 shares of the company were exchanged, compared to its average volume of 125,513. IBEX Limited has a 52 week low of $25.94 and a 52 week high of $42.40. The business has a 50 day moving average of $36.26 and a two-hundred day moving average of $31.97. The company has a market capitalization of $534.92 million, a PE ratio of 12.87 and a beta of 0.72.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings data on Thursday, September 10th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The business 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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IBEX. Dimensional Fund Advisors LP boosted its stake in shares of IBEX by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after buying an additional 24,942 shares during the last quarter. Tieton Capital Management LLC bought a new stake in IBEX during the second quarter worth about $8,353,000. Hillsdale Investment Management Inc. raised its holdings in IBEX by 2.8% during the first quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock worth $7,086,000 after acquiring an additional 7,300 shares in the last quarter. Globeflex Capital L P bought a new stake in IBEX during the second quarter worth about $3,112,000. Finally, Los Angeles Capital Management LLC boosted its position in IBEX by 25.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 68,825 shares of the company’s stock valued at $2,591,000 after purchasing an additional 13,807 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IBEX shares. Robert W. Baird upped their price objective on IBEX from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Wall Street Zen lowered IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings restated 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.com, the stock currently has an average rating of “Hold” and a consensus price target 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.