IBEX Limited (NASDAQ:IBEX) Short Interest Up 6.2% in November

IBEX Limited (NASDAQ:IBEX) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 148,000 shares, a growth of 6.2% from the November 15th total of 139,400 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 127,400 shares, the days-to-cover ratio is presently 1.2 days.

IBEX Price Performance

IBEX stock opened at $20.00 on Tuesday. The business has a 50 day simple moving average of $19.50 and a 200-day simple moving average of $17.88. The firm has a market capitalization of $335.30 million, a PE ratio of 10.67 and a beta of 0.80. IBEX has a 1 year low of $13.00 and a 1 year high of $21.63.

Analyst Ratings Changes

IBEX has been the subject of several analyst reports. Robert W. Baird boosted their price objective on IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada increased 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, IBEX currently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Insiders Place Their Bets

In related news, Director Group International L. Resource sold 2,011 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $20.00, for a total value of $40,220.00. Following the completion of the transaction, the director now owns 5,348,432 shares in the company, valued at $106,968,640. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mohammedulla Khaishgi sold 4,880 shares of the stock in a transaction 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 sale, the director now owns 296,711 shares in the company, valued at $5,934,220. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 451,329 shares of company stock worth $9,021,471. 6.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IBEX. FMR LLC boosted its holdings in IBEX by 314.5% during the 3rd quarter. FMR LLC now owns 2,139 shares of the company’s stock valued at $43,000 after acquiring an additional 1,623 shares during the period. Janus Henderson Group PLC boosted its stake in shares of IBEX by 11.9% in the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock valued at $347,000 after purchasing an additional 1,842 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of IBEX by 6.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock valued at $528,000 after purchasing an additional 1,874 shares in the last quarter. State Street Corp increased its stake in IBEX by 1.2% during the 3rd quarter. State Street Corp now owns 181,035 shares of the company’s stock worth $3,617,000 after buying an additional 2,105 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in IBEX during the 2nd quarter worth approximately $38,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.

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.