Insider Selling: IBEX (NASDAQ:IBEX) CEO Sells $999,750.00 in 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 stock was sold at an average price of $39.99, for a total value of $999,750.00. Following the completion of the sale, the chief executive officer owned 262,011 shares in the company, valued at approximately $10,477,819.89. This represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

IBEX Price Performance

NASDAQ IBEX opened at $40.20 on Friday. The business has a 50 day moving average price of $36.71 and a 200 day moving average price of $32.19. The company has a market capitalization of $533.86 million, a P/E ratio of 12.84 and a beta of 0.72. IBEX Limited has a 1-year low of $25.94 and a 1-year high of $42.40.

IBEX (NASDAQ:IBEX) last posted its earnings results on Friday, September 11th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $164.27 million for the quarter, compared to the consensus estimate of $160.02 million. IBEX had a return on equity of 28.96% and a net margin of 7.19%.

Analyst Ratings Changes

A number of equities research analysts recently commented on IBEX shares. Robert W. Baird increased their price objective on shares of IBEX from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. Wall Street Zen cut shares of IBEX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of IBEX in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.00.

Hedge Funds Weigh In On IBEX

Institutional investors have recently made changes to their positions in the stock. Clearstead Advisors LLC boosted its stake in shares of IBEX by 159.1% during the fourth quarter. Clearstead Advisors LLC now owns 2,635 shares of the company’s stock valued at $101,000 after acquiring an additional 1,618 shares during the last quarter. Sargent Investment Group LLC purchased a new position in IBEX in the 4th quarter valued at about $249,000. Valued Retirements Inc. acquired a new stake in shares of IBEX during the 4th quarter worth about $289,000. Evolve Private Wealth LLC boosted its stake in shares of IBEX by 5.7% during the 1st quarter. Evolve Private Wealth LLC now owns 10,280 shares of the company’s stock worth $276,000 after purchasing an additional 555 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of IBEX by 33.0% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock worth $321,000 after buying an additional 2,625 shares in the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

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.