IBEX Limited (NASDAQ:IBEX) Major Shareholder Gem G.P. L.P. Pinebridge II Sells 20,000 Shares of Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider now directly owns 1,309,781 shares of the company’s stock, valued at $26,195,620. The trade was a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Gem G.P. L.P. Pinebridge II also recently made the following trade(s):

• On Monday, December 9th, Gem G.P. L.P. Pinebridge II sold 23,735 shares of IBEX stock. The shares were sold at an average price of $20.02, for a total value of $475,174.70.
• On Wednesday, December 4th, Gem G.P. L.P. Pinebridge II sold 82,572 shares of IBEX stock. The shares were sold at an average price of $20.20, for a total transaction of $1,667,954.40.
• On Monday, December 2nd, Gem G.P. L.P. Pinebridge II sold 25,878 shares of IBEX stock. The stock was sold at an average price of $20.75, for a total transaction of $536,968.50.
• On Wednesday, November 20th, Gem G.P. L.P. Pinebridge II sold 78,728 shares of IBEX stock. The stock was sold at an average price of $20.12, for a total value 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 value of $381,000.00.
• On Wednesday, October 2nd, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was 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 shares were sold at an average price of $19.89, for a total transaction of $397,800.00.

IBEX Stock Up 1.4 %

IBEX stock opened at $20.45 on Wednesday. The company’s 50-day moving average price is $19.52 and its two-hundred day moving average price is $17.91. The stock has a market cap of $342.84 million, a P/E ratio of 10.82 and a beta of 0.80. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $21.63.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBEX. Robert W. Baird boosted their target price on shares of IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their price target on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.25.

Institutional Trading of IBEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its holdings in IBEX by 314.5% in the third quarter. FMR LLC now owns 2,139 shares of the company’s stock worth $43,000 after purchasing an additional 1,623 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in IBEX in the 2nd quarter valued at $38,000. Public Employees Retirement System of Ohio purchased a new position in shares of IBEX during the third quarter valued at approximately $68,000. Janus Henderson Group PLC lifted its holdings in IBEX by 11.9% during the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock worth $347,000 after acquiring an additional 1,842 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in shares of IBEX in the 3rd quarter worth approximately $371,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

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.