IBEX Limited $IBEX Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in IBEX Limited (NASDAQ:IBEX) by 18.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,220 shares of the company’s stock after purchasing an additional 5,700 shares during the period. Pinnacle Associates Ltd. owned approximately 0.27% of IBEX worth $1,054,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IBEX. Allspring Global Investments Holdings LLC lifted its position in IBEX by 19.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,856 shares of the company’s stock worth $995,000 after purchasing an additional 6,526 shares during the period. Bank of New York Mellon Corp lifted its position in shares of IBEX by 30.4% during the 1st quarter. Bank of New York Mellon Corp now owns 24,700 shares of the company’s stock valued at $601,000 after acquiring an additional 5,762 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of IBEX during the 1st quarter valued at $346,000. New York State Common Retirement Fund lifted its position in shares of IBEX by 112.9% during the 1st quarter. New York State Common Retirement Fund now owns 25,077 shares of the company’s stock valued at $611,000 after acquiring an additional 13,300 shares during the last quarter. Finally, CWM LLC lifted its position in shares of IBEX by 392.7% during the 1st quarter. CWM LLC now owns 2,853 shares of the company’s stock valued at $69,000 after acquiring an additional 2,274 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

IBEX Price Performance

IBEX opened at $37.98 on Tuesday. The stock has a market cap of $511.59 million, a price-to-earnings ratio of 15.89 and a beta of 0.82. IBEX Limited has a 1 year low of $17.53 and a 1 year high of $42.99. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $36.28 and a 200 day moving average price of $31.17.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of IBEX in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on IBEX from $31.00 to $39.00 and gave the company a “sector perform” rating in a report on Friday, September 12th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.50.

Insider Activity

In other IBEX news, insider Paul Joseph Inson sold 697 shares of IBEX stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $39.58, for a total value of $27,587.26. Following the completion of the sale, the insider directly owned 4,916 shares in the company, valued at $194,575.28. The trade was a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Al Trofimuk-O’connor sold 1,001 shares of IBEX stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $39.58, for a total transaction of $39,619.58. Following the completion of the sale, the insider owned 13,954 shares of the company’s stock, valued at $552,299.32. This trade represents a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 81,315 shares of company stock valued at $3,036,165. 3.40% of the stock is currently owned by company insiders.

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.