IBEX (NASDAQ:IBEX) Stock: Insider Julie Casteel Sells 11,677 Shares

IBEX Limited (NASDAQ:IBEX) insider Julie Casteel sold 11,677 shares of the company’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $50.72, for a total value of $592,257.44. Following the sale, the insider owned 100,594 shares of the company’s stock, valued at approximately $5,102,127.68. This represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

IBEX Trading Up 5.9%

Shares of NASDAQ IBEX opened at $55.32 on Thursday. The stock has a market capitalization of $737.64 million, a PE ratio of 16.76 and a beta of 0.74. The stock’s fifty day simple moving average is $43.86 and its two-hundred day simple moving average is $34.72. IBEX Limited has a 12-month low of $25.94 and a 12-month high of $55.77.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $175.23 million for the quarter, compared to the consensus estimate of $169.31 million. IBEX had a return on equity of 29.10% and a net margin of 7.34%.

Recent IBEX Headlines

Here are a few of the latest headlines about IBEX:

• Positive Sentiment: Recent earnings beat: The latest reported quarter exceeded analyst estimates for both earnings and revenue, providing a positive fundamental backdrop for the stock.
• Neutral Sentiment: Investor conference: CEO Bob Dechant and CFO Taylor Greenwald are scheduled to present at the RBC Global TIMT Conference on November 17. The appearance may give investors more insight into the business, but no new guidance was announced. Conference announcement
• Negative Sentiment: Multiple insiders sold shares: Six insiders, including CEO Dechant, sold about 31,200 shares in transactions reported around November 9–10. Dechant’s sale was made under a pre-arranged Rule 10b5-1 plan, and sellers retained shares, but the cluster of sales may weigh on sentiment. CEO filing Insider sale report

Hedge Funds Weigh In On IBEX

A number of large investors have recently made changes to their positions in the business. Ieq Capital LLC boosted its position in shares of IBEX by 11.8% in the 3rd quarter. Ieq Capital LLC now owns 14,638 shares of the company’s stock worth $633,000 after purchasing an additional 1,545 shares in the last quarter. Boston Partners increased its position in IBEX by 15.3% during the 3rd quarter. Boston Partners now owns 397,353 shares of the company’s stock valued at $17,189,000 after buying an additional 52,638 shares in the last quarter. Virtus Advisers LLC increased its position in IBEX by 18.9% during the 3rd quarter. Virtus Advisers LLC now owns 22,920 shares of the company’s stock valued at $992,000 after buying an additional 3,645 shares in the last quarter. Russell Investments Group Ltd. increased its position in IBEX by 370.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,361 shares of the company’s stock valued at $623,000 after buying an additional 11,309 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in IBEX by 10.0% in the third quarter. Ritholtz Wealth Management now owns 60,230 shares of the company’s stock valued at $2,606,000 after buying an additional 5,480 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings upgraded IBEX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Royal Bank Of Canada boosted their target price on shares of IBEX from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday. Wall Street Zen raised shares of IBEX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Finally, Robert W. Baird raised their price target on shares of IBEX from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.50.

About IBEX

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.