IBEX Limited (NASDAQ:IBEX) Major Shareholder Sells $400,000.00 in Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 20,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the insider now owns 1,309,781 shares in the company, valued at $26,195,620. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Gem G.P. L.P. Pinebridge II also recently made the following trade(s):

• On Monday, December 9th, Gem G.P. L.P. Pinebridge II sold 23,735 shares of IBEX stock. The shares were sold at an average price of $20.02, for a total value of $475,174.70.
• On Wednesday, December 4th, Gem G.P. L.P. Pinebridge II sold 82,572 shares of IBEX stock. The stock was sold at an average price of $20.20, for a total value of $1,667,954.40.
• On Monday, December 2nd, Gem G.P. L.P. Pinebridge II sold 25,878 shares of IBEX stock. The stock was sold at an average price of $20.75, for a total value of $536,968.50.
• On Wednesday, November 20th, Gem G.P. L.P. Pinebridge II sold 78,728 shares of IBEX stock. The shares were sold at an average price of $20.12, for a total value of $1,584,007.36.
• On Thursday, October 10th, Gem G.P. L.P. Pinebridge II sold 19,642 shares of IBEX stock. The stock was sold at an average price of $19.03, for a total transaction of $373,787.26.
• On Tuesday, October 8th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.05, for a total transaction of $381,000.00.
• On Wednesday, October 2nd, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.24, for a total transaction of $384,800.00.
• On Monday, September 30th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.82, for a total transaction of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.89, for a total value of $397,800.00.

IBEX Price Performance

Shares of IBEX stock opened at $20.02 on Friday. The stock’s fifty day moving average price is $19.55 and its 200 day moving average price is $17.94. IBEX Limited has a 1-year low of $13.00 and a 1-year high of $21.63. The company has a market cap of $335.64 million, a price-to-earnings ratio of 10.59 and a beta of 0.80.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IBEX shares. Royal Bank of Canada upped their price objective on IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Robert W. Baird increased their price target on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Hedge Funds Weigh In On IBEX

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in IBEX by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after purchasing an additional 55,216 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of IBEX in the third quarter worth $556,000. Quadrature Capital Ltd acquired a new stake in shares of IBEX during the third quarter worth $522,000. Virtu Financial LLC purchased a new stake in shares of IBEX during the third quarter valued at $380,000. Finally, Ritholtz Wealth Management acquired a new position in shares of IBEX in the 3rd quarter valued at $371,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

About IBEX

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.