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

IBEX Limited (NASDAQ:IBEX) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 148,000 shares, an increase of 6.2% from the November 15th total of 139,400 shares. Based on an average daily trading volume, of 127,400 shares, the short-interest ratio is currently 1.2 days. Currently, 1.1% of the shares of the company are short sold.

IBEX Trading Up 0.5 %

Shares of IBEX opened at $20.17 on Tuesday. The firm has a market capitalization of $338.15 million, a P/E ratio of 10.67 and a beta of 0.80. The firm has a fifty day moving average price of $19.50 and a 200-day moving average price of $17.88. IBEX has a 12-month low of $13.00 and a 12-month high of $21.63.

Insider Buying and Selling at IBEX

In related news, Director Mohammedulla Khaishgi sold 4,880 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.00, for a total transaction of $97,600.00. Following the completion of the transaction, the director now directly owns 296,711 shares in the company, valued at approximately $5,934,220. The trade was a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gem G.P. L.P. Pinebridge II sold 25,878 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.75, for a total transaction of $536,968.50. Following the sale, the insider now owns 1,545,861 shares in the company, valued at approximately $32,076,615.75. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,329 shares of company stock valued at $9,021,471. Insiders own 6.72% of the company’s stock.

Institutional Trading of IBEX

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in IBEX by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $447,000 after acquiring an additional 3,759 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of IBEX by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock worth $528,000 after purchasing an additional 1,874 shares during the period. Victory Capital Management Inc. boosted its stake in shares of IBEX by 5.9% during the second quarter. Victory Capital Management Inc. now owns 55,207 shares of the company’s stock valued at $893,000 after purchasing an additional 3,084 shares in the last quarter. American Century Companies Inc. increased its holdings in IBEX by 4.3% during the second quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock valued at $21,663,000 after buying an additional 55,216 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in IBEX in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IBEX shares. Royal Bank of Canada boosted their price target on IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Robert W. Baird upped their target price 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.