IBEX Limited (NASDAQ:IBEX) Sees Significant Decline in Short Interest

IBEX Limited (NASDAQ:IBEX) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 111,500 shares, a decline of 21.3% from the February 13th total of 141,700 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 189,300 shares, the short-interest ratio is currently 0.6 days.

Insiders Place Their Bets

In other news, insider Paul Joseph Inson sold 8,954 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $27.53, for a total transaction of $246,503.62. Following the completion of the sale, the insider now owns 21,042 shares of the company’s stock, valued at $579,286.26. The trade was a 29.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Thomas Dechant sold 49,931 shares of IBEX stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $26.24, for a total transaction of $1,310,189.44. Following the transaction, the chief executive officer now directly owns 213,633 shares in the company, valued at $5,605,729.92. This represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,412 shares of company stock valued at $4,659,939. Company insiders own 6.72% of the company’s stock.

Institutional Trading of IBEX

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in IBEX by 6.2% in the third quarter. Victory Capital Management Inc. now owns 58,657 shares of the company’s stock worth $1,172,000 after purchasing an additional 3,450 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of IBEX by 359.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 10,781 shares of the company’s stock valued at $215,000 after buying an additional 8,433 shares in the last quarter. FMR LLC lifted its holdings in shares of IBEX by 314.5% in the 3rd quarter. FMR LLC now owns 2,139 shares of the company’s stock valued at $43,000 after acquiring an additional 1,623 shares during the last quarter. Martingale Asset Management L P grew its position in IBEX by 110.9% in the third quarter. Martingale Asset Management L P now owns 21,720 shares of the company’s stock worth $434,000 after acquiring an additional 11,421 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of IBEX in the 3rd quarter worth approximately $556,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their target price on shares of IBEX from $21.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th.

IBEX Price Performance

IBEX traded up $1.34 during trading on Wednesday, reaching $26.32. 402,053 shares of the company traded hands, compared to its average volume of 104,536. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a fifty day simple moving average of $23.93 and a 200 day simple moving average of $21.08. IBEX has a 12-month low of $13.00 and a 12-month high of $27.83. The company has a market cap of $347.21 million, a P/E ratio of 12.39 and a beta of 0.75.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. IBEX had a net margin of 7.08% and a return on equity of 25.29%.

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.