IBEX Limited (NASDAQ:IBEX) Major Shareholder Gem G.P. L.P. Pinebridge II Sells 25,878 Shares of Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 25,878 shares of IBEX stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.75, for a total transaction of $536,968.50. Following the completion of the transaction, the insider now directly owns 1,545,861 shares in the company, valued at $32,076,615.75. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Wednesday, December 4th, Gem G.P. L.P. Pinebridge II sold 82,572 shares of IBEX stock. The stock was sold at an average price of $20.20, for a total value of $1,667,954.40.
• On Wednesday, November 20th, Gem G.P. L.P. Pinebridge II sold 78,728 shares of IBEX stock. The shares were 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 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 transaction of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.89, for a total value of $397,800.00.

IBEX Trading Down 0.4 %

Shares of NASDAQ IBEX opened at $20.15 on Thursday. The company has a market cap of $337.71 million, a price-to-earnings ratio of 10.66 and a beta of 0.80. The stock’s 50 day simple moving average is $19.40 and its 200 day simple moving average is $17.61. IBEX Limited has a 12-month low of $13.00 and a 12-month high of $21.63.

IBEX (NASDAQ:IBEX) last released its quarterly earnings results on Thursday, September 12th. The company reported $0.54 EPS 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%.

Hedge Funds Weigh In On IBEX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in IBEX by 314.5% during the 3rd quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after acquiring an additional 1,623 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of IBEX during the second quarter valued at about $38,000. Public Employees Retirement System of Ohio acquired a new stake in IBEX in the third quarter worth about $68,000. Janus Henderson Group PLC grew its position in IBEX by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock valued at $347,000 after buying an additional 1,842 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in IBEX during the 3rd quarter valued at about $371,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of 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 lifted their price target on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.25.

About IBEX

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.