IBEX (NASDAQ:IBEX) Hits New 1-Year High – What’s Next?

IBEX Limited (NASDAQ:IBEX) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $48.17 and last traded at $47.71, with a volume of 1,782 shares trading hands. The stock had previously closed at $47.23.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IBEX shares. Wall Street Zen downgraded shares of IBEX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Robert W. Baird lifted their price target on shares of IBEX from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, September 28th. Finally, Weiss Ratings raised shares of IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.00.

IBEX Stock Down 2.4%

The stock has a 50 day moving average of $41.60 and a 200 day moving average of $34.21.

IBEX (NASDAQ:IBEX) last announced its earnings results on Friday, September 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $164.27 million during the quarter, compared to the consensus estimate of $160.02 million.

Insider Buying and Selling

In related news, Director Mingzhe Zhuang sold 5,522 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.10, for a total value of $221,432.20. Following the transaction, the director owned 2,813 shares in the company, valued at $112,801.30. The trade was a 66.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christina O’Connor sold 2,376 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $39.34, for a total transaction of $93,471.84. Following the sale, the insider directly owned 26,855 shares in the company, valued at $1,056,475.70. This trade represents a 8.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,465 shares of company stock worth $3,882,291. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in IBEX by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company’s stock worth $9,607,000 after purchasing an additional 24,942 shares during the period. Tieton Capital Management LLC acquired a new position in IBEX in the second quarter valued at approximately $8,353,000. Hillsdale Investment Management Inc. boosted its holdings in shares of IBEX by 2.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 264,200 shares of the company’s stock worth $7,086,000 after buying an additional 7,300 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of IBEX by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 208,027 shares of the company’s stock worth $8,999,000 after buying an additional 6,932 shares in the last quarter. Finally, Globeflex Capital L P bought a new position in shares of IBEX during the 2nd quarter worth approximately $3,112,000. 81.24% of the stock is owned by institutional investors.

IBEX Company Profile

IBEX Limited (NASDAQ: IBEX) is a business process outsourcing and customer experience technology company. It provides customer service, technical support, sales, back-office processing and other digital services for businesses across industries, including communications, healthcare, retail, logistics and financial services.

The company combines customer contact centers, digital engagement channels, analytics and artificial intelligence-enabled tools to help clients manage customer interactions and improve operational efficiency.