IBEX Limited (NASDAQ:IBEX) Short Interest Update

IBEX Limited (NASDAQ:IBEX) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 111,500 shares, a drop of 21.3% from the February 13th total of 141,700 shares. Based on an average daily volume of 189,300 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.0% of the shares of the stock are sold short.

Insider Activity at IBEX

In related news, CEO Robert Thomas Dechant sold 5,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $27.56, for a total value of $137,800.00. Following the completion of the sale, the chief executive officer now directly owns 213,633 shares in the company, valued at $5,887,725.48. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Neil Dawson sold 13,500 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.00, for a total value of $324,000.00. Following the completion of the sale, the insider now owns 5,607 shares of the company’s stock, valued at approximately $134,568. This represents a 70.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,412 shares of company stock valued at $4,659,939. 6.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IBEX

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of IBEX by 8,785.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company’s stock valued at $40,000 after buying an additional 1,845 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of IBEX by 267.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock valued at $41,000 after buying an additional 1,401 shares during the period. FMR LLC increased its stake in shares of IBEX by 314.5% during the third quarter. FMR LLC now owns 2,139 shares of the company’s stock valued at $43,000 after buying an additional 1,623 shares during the period. Deutsche Bank AG purchased a new position in shares of IBEX during the fourth quarter valued at $46,000. Finally, R Squared Ltd purchased a new position in shares of IBEX during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

IBEX Trading Up 1.8 %

Shares of NASDAQ:IBEX traded up $0.45 on Monday, hitting $25.31. 132,424 shares of the company’s stock were exchanged, compared to its average volume of 102,872. IBEX has a 12 month low of $13.00 and a 12 month high of $27.83. The stock has a market capitalization of $333.89 million, a price-to-earnings ratio of 11.88 and a beta of 0.75. The business’s 50 day simple moving average is $23.78 and its two-hundred day simple moving average is $20.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 1.44.

IBEX (NASDAQ:IBEX) last released its earnings results on Thursday, February 6th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. IBEX had a return on equity of 25.29% and a net margin of 7.08%.

Analysts Set New Price Targets

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

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.