IBEX (NASDAQ:IBEX) Stock: Insider Patrick Mcginnis Sells 2,500 Shares

IBEX Limited (NASDAQ:IBEX) Director Patrick McGinnis sold 2,500 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $50.48, for a total transaction of $126,200.00. Following the completion of the transaction, the director owned 4,585 shares of the company’s stock, valued at approximately $231,450.80. This represents a 35.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

IBEX Stock Performance

NASDAQ:IBEX opened at $55.32 on Thursday. The company has a 50-day moving average of $43.86 and a 200-day moving average of $34.72. The company has a market capitalization of $737.64 million, a price-to-earnings ratio of 16.76 and a beta of 0.74. IBEX Limited has a 52 week low of $25.94 and a 52 week high of $55.77.

IBEX (NASDAQ:IBEX) last posted its earnings results on Thursday, November 5th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $175.23 million for the quarter, compared to analysts’ expectations of $169.31 million. IBEX had a net margin of 7.34% and a return on equity of 29.10%.

Institutional Investors Weigh In On IBEX

A number of hedge funds have recently made changes to their positions in IBEX. Lazard Asset Management LLC boosted its position in IBEX by 55.2% in the first quarter. Lazard Asset Management LLC now owns 89,150 shares of the company’s stock valued at $2,391,000 after buying an additional 31,697 shares in the last quarter. Globeflex Capital L P bought a new stake in IBEX during the second quarter worth about $3,112,000. Tieton Capital Management LLC acquired a new stake in shares of IBEX during the second quarter worth approximately $8,353,000. Watershed Asset Management L.L.C. acquired a new stake in shares of IBEX during the first quarter worth approximately $453,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of IBEX by 7.5% during the first 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 in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

Recent IBEX Headlines

Here are a few of the latest headlines about IBEX:

• Positive Sentiment: Recent earnings beat: The latest reported quarter exceeded analyst estimates for both earnings and revenue, providing a positive fundamental backdrop for the stock.
• Neutral Sentiment: Investor conference: CEO Bob Dechant and CFO Taylor Greenwald are scheduled to present at the RBC Global TIMT Conference on November 17. The appearance may give investors more insight into the business, but no new guidance was announced. Conference announcement
• Negative Sentiment: Multiple insiders sold shares: Six insiders, including CEO Dechant, sold about 31,200 shares in transactions reported around November 9–10. Dechant’s sale was made under a pre-arranged Rule 10b5-1 plan, and sellers retained shares, but the cluster of sales may weigh on sentiment. CEO filing Insider sale report

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBEX. Wall Street Zen raised IBEX from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Robert W. Baird boosted their price target on IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, September 28th. Finally, Royal Bank Of Canada upped their price target on IBEX from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.50.

IBEX Company Profile

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.