IBEX Limited (NASDAQ:IBEX) Sees Large Drop in Short Interest

IBEX Limited (NASDAQ:IBEX) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 111,500 shares, a decline of 21.3% from the February 13th total of 141,700 shares. Based on an average daily volume of 189,300 shares, the short-interest ratio is currently 0.6 days. Approximately 1.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada boosted their price target on shares of IBEX from $21.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th.

Insider Transactions at IBEX

In related news, CEO Robert Thomas Dechant sold 49,931 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $26.24, for a total value of $1,310,189.44. Following the completion of the sale, the chief executive officer now directly owns 213,633 shares of the company’s stock, valued at $5,605,729.92. The trade was a 18.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Neil Dawson sold 13,500 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.00, for a total transaction of $324,000.00. Following the completion of the sale, the insider now directly owns 5,607 shares of the company’s stock, valued at approximately $134,568. This trade represents a 70.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 183,412 shares of company stock valued at $4,659,939. Insiders own 6.72% of the company’s stock.

Institutional Investors Weigh In On IBEX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of IBEX during the fourth quarter worth about $643,000. Two Sigma Advisers LP lifted its holdings in shares of IBEX by 97.7% in the fourth quarter. Two Sigma Advisers LP now owns 145,700 shares of the company’s stock valued at $3,131,000 after purchasing an additional 72,000 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of IBEX by 39.1% in the fourth quarter. Two Sigma Investments LP now owns 115,815 shares of the company’s stock valued at $2,489,000 after purchasing an additional 32,525 shares in the last quarter. State of Wyoming purchased a new stake in shares of IBEX in the fourth quarter valued at about $119,000. Finally, Man Group plc purchased a new stake in shares of IBEX in the fourth quarter valued at about $777,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

IBEX Stock Performance

Shares of NASDAQ:IBEX traded down $0.33 on Tuesday, reaching $24.98. The company’s stock had a trading volume of 131,515 shares, compared to its average volume of 103,252. The stock’s 50-day moving average is $23.93 and its two-hundred day moving average is $21.08. IBEX has a 52-week low of $13.00 and a 52-week high of $27.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $329.54 million, a P/E ratio of 11.73 and a beta of 0.75.

IBEX (NASDAQ:IBEX) last announced its earnings results on Thursday, February 6th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. IBEX had a net margin of 7.08% and a return on equity of 25.29%.

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.