Lazard Asset Management LLC Acquires 31,697 Shares of IBEX Limited $IBEX

Lazard Asset Management LLC lifted its holdings in IBEX Limited (NASDAQ:IBEX) by 55.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,150 shares of the company’s stock after acquiring an additional 31,697 shares during the period. Lazard Asset Management LLC owned 0.67% of IBEX worth $2,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Amundi purchased a new stake in IBEX during the 1st quarter valued at $74,000. AQR Capital Management LLC raised its stake in shares of IBEX by 312.6% in the first quarter. AQR Capital Management LLC now owns 139,902 shares of the company’s stock valued at $3,407,000 after acquiring an additional 105,997 shares during the period. Jane Street Group LLC purchased a new stake in shares of IBEX in the first quarter valued at $756,000. Geode Capital Management LLC lifted its holdings in shares of IBEX by 12.3% in the 2nd quarter. Geode Capital Management LLC now owns 127,735 shares of the company’s stock worth $3,717,000 after acquiring an additional 13,941 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of IBEX by 11.4% during the 2nd quarter. Rhumbline Advisers now owns 14,320 shares of the company’s stock worth $417,000 after purchasing an additional 1,466 shares during the period. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

IBEX Price Performance

Shares of IBEX opened at $35.34 on Monday. The firm has a market capitalization of $473.20 million, a price-to-earnings ratio of 11.04 and a beta of 0.69. IBEX Limited has a 1-year low of $25.94 and a 1-year high of $42.99. The company has a 50-day moving average of $32.17 and a 200 day moving average of $31.27.

IBEX (NASDAQ:IBEX) last issued its earnings results on Thursday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $164.41 million for the quarter, compared to analyst estimates of $157.00 million. IBEX had a net margin of 7.53% and a return on equity of 31.50%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of IBEX in a research report on Monday, May 4th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.00.

Insiders Place Their Bets

In other news, insider Julie K. Casteel sold 3,600 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.61, for a total transaction of $110,196.00. Following the transaction, the insider owned 117,594 shares of the company’s stock, valued at approximately $3,599,552.34. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruce Neil Dawson sold 15,260 shares of IBEX stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $31.12, for a total value of $474,891.20. Following the completion of the sale, the insider owned 61,895 shares of the company’s stock, valued at $1,926,172.40. The trade was a 19.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,783 shares of company stock worth $989,126. 3.40% of the stock is owned by company insiders.

IBEX Profile

IBEX Holdings, Inc is a global business process outsourcing (BPO) company that specializes in customer experience solutions for a range of industries, including telecommunications, cable, technology, financial services and e-commerce. The company’s core offerings encompass multichannel customer support delivered via voice, email, chat, social media and digital self-service platforms. In addition to front-line contact center services, IBEX provides back-office processing, order management, technical troubleshooting and analytics-driven insights to help clients optimize operational efficiency and customer satisfaction.

Beyond traditional contact center operations, IBEX has built a proprietary technology stack designed to integrate real-time data analytics, workforce management and quality assurance.