Gem G.P. L.P. Pinebridge II Sells 78,728 Shares of IBEX Limited (NASDAQ:IBEX) Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $20.12, for a total value of $1,584,007.36. Following the completion of the transaction, the insider now directly owns 1,641,011 shares of the company’s stock, valued at approximately $33,017,141.32. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 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 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 stock was 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 shares were sold at an average price of $19.89, for a total value of $397,800.00.

IBEX Stock Performance

Shares of IBEX opened at $20.60 on Friday. IBEX Limited has a 52-week low of $13.00 and a 52-week high of $21.63. The company has a market cap of $345.36 million, a price-to-earnings ratio of 10.90 and a beta of 0.76. The stock has a fifty day moving average price of $19.30 and a two-hundred day moving average price of $17.28.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. The business had revenue of $124.53 million during the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.54%.

Analyst Ratings Changes

IBEX has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Two 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, IBEX presently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

Institutional Trading of IBEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake 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 purchasing an additional 1,623 shares during the last quarter. Meeder Asset Management Inc. bought a new position in IBEX in the second quarter valued at approximately $38,000. Public Employees Retirement System of Ohio bought a new stake in shares of IBEX during the 3rd quarter valued at $68,000. Janus Henderson Group PLC boosted its position in shares of IBEX by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock worth $347,000 after purchasing an additional 1,842 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of IBEX during the third quarter worth $371,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

IBEX Company Profile

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.