Insider Selling: IBEX Limited (NASDAQ:IBEX) Major Shareholder Sells 20,000 Shares of Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the transaction, the insider now directly owns 1,309,781 shares of the company’s stock, valued at approximately $26,195,620. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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 shares were sold at an average price of $20.75, for a total transaction of $536,968.50.
• On Wednesday, November 20th, Gem G.P. L.P. Pinebridge II sold 78,728 shares of IBEX stock. The stock was sold at an average price of $20.12, for a total transaction of $1,584,007.36.
• On Thursday, October 10th, Gem G.P. L.P. Pinebridge II sold 19,642 shares of IBEX stock. The shares were sold at an average price of $19.03, for a total value of $373,787.26.
• On Tuesday, October 8th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.05, for a total value of $381,000.00.
• On Wednesday, October 2nd, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.24, for a total value 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 value of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.89, for a total transaction of $397,800.00.

IBEX Stock Performance

Shares of NASDAQ:IBEX traded up $0.28 during midday trading on Tuesday, hitting $20.45. The company’s stock had a trading volume of 94,004 shares, compared to its average volume of 75,684. IBEX Limited has a 12-month low of $13.00 and a 12-month high of $21.63. The company has a market cap of $342.84 million, a P/E ratio of 10.82 and a beta of 0.80. The business’s 50 day simple moving average is $19.52 and its 200 day simple moving average is $17.91.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IBEX shares. Royal Bank of Canada boosted their target price on shares of 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 boosted their price objective on IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in IBEX by 4.3% during the second quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after buying an additional 55,216 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of IBEX by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company’s stock valued at $3,228,000 after acquiring an additional 3,052 shares during the last quarter. State Street Corp grew its holdings in shares of IBEX by 1.2% in the third quarter. State Street Corp now owns 181,035 shares of the company’s stock valued at $3,617,000 after purchasing an additional 2,105 shares during the period. Sei Investments Co. increased its position in IBEX by 12.1% during the second quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock worth $2,327,000 after purchasing an additional 15,507 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in IBEX by 20.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 85,149 shares of the company’s stock worth $1,701,000 after purchasing an additional 14,411 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

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.