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 that occurred on 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 sale, the insider now owns 1,309,781 shares of the company’s stock, valued at $26,195,620. The trade was a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 shares were 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 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 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 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 Up 1.4 %

Shares of IBEX traded up $0.28 during mid-day trading on Tuesday, hitting $20.45. 94,004 shares of the company traded hands, compared to its average volume of 75,684. The company has a market capitalization of $342.84 million, a PE ratio of 10.82 and a beta of 0.80. The business has a 50 day moving average of $19.52 and a 200 day moving average of $17.91. IBEX Limited has a 1-year low of $13.00 and a 1-year high of $21.63.

Wall Street Analysts Forecast Growth

IBEX has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada raised 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of 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 period. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 3,052 shares during the last quarter. State Street Corp increased 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. raised its stake in shares of IBEX by 12.1% in 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. lifted its holdings in shares of 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. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.