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

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

Analyst Upgrades and Downgrades

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

Insider Activity at IBEX

In other IBEX news, insider Bruce Neil Dawson sold 13,500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 5,607 shares of the company’s stock, valued at $134,568. This trade represents a 70.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Thomas Dechant sold 1,792 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $22.50, for a total transaction of $40,320.00. Following the transaction, the chief executive officer now directly owns 226,841 shares in the company, valued at approximately $5,103,922.50. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,412 shares of company stock valued at $4,659,939. Company insiders own 6.72% of the company’s stock.

Institutional Investors Weigh In On IBEX

Several large investors have recently made changes to their positions in IBEX. Victory Capital Management Inc. increased its position in shares of IBEX by 6.2% in the third quarter. Victory Capital Management Inc. now owns 58,657 shares of the company’s stock worth $1,172,000 after acquiring an additional 3,450 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of IBEX by 359.2% in the third quarter. Meeder Asset Management Inc. now owns 10,781 shares of the company’s stock worth $215,000 after acquiring an additional 8,433 shares in the last quarter. FMR LLC increased its position in shares of IBEX by 314.5% in the third quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after acquiring an additional 1,623 shares in the last quarter. Martingale Asset Management L P increased its position in shares of IBEX by 110.9% in the third quarter. Martingale Asset Management L P now owns 21,720 shares of the company’s stock worth $434,000 after acquiring an additional 11,421 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of IBEX in the third quarter worth $556,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

IBEX Trading Down 1.3 %

NASDAQ:IBEX traded down $0.33 during trading hours on Tuesday, reaching $24.98. 131,515 shares of the company were exchanged, compared to its average volume of 103,252. 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 firm has a market cap of $329.54 million, a price-to-earnings ratio of 11.73 and a beta of 0.75. IBEX has a 52-week low of $13.00 and a 52-week high of $27.83. The stock has a 50 day simple moving average of $23.93 and a 200 day simple moving average of $21.08.

IBEX (NASDAQ:IBEX) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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.