IBEX Limited (NASDAQ:IBEX) Short Interest Down 7.2% in August

IBEX Limited (NASDAQ:IBEX) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 174,800 shares, a decline of 7.2% from the August 15th total of 188,400 shares. Based on an average trading volume of 52,900 shares, the days-to-cover ratio is currently 3.3 days. Approximately 1.8% of the shares of the company are sold short.

IBEX Stock Performance

IBEX stock opened at $19.73 on Thursday. The business has a 50 day moving average of $16.93 and a 200-day moving average of $15.69. IBEX has a 1 year low of $13.00 and a 1 year high of $20.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.42 and a quick ratio of 2.42. The company has a market capitalization of $339.63 million, a P/E ratio of 12.90 and a beta of 0.73.

Insider Activity

In other news, Director Shuja Keen sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $19.95, for a total value of $299,250.00. Following the completion of the sale, the director now owns 146,110 shares of the company’s stock, valued at $2,914,894.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Circumference Group LLC acquired a new stake in shares of IBEX during the 4th quarter worth approximately $7,842,000. Kennedy Capital Management LLC increased its position in shares of IBEX by 341.7% during the 1st quarter. Kennedy Capital Management LLC now owns 282,675 shares of the company’s stock valued at $4,362,000 after purchasing an additional 218,679 shares during the last quarter. American Century Companies Inc. increased its holdings in IBEX by 4.3% in the 2nd quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after acquiring an additional 55,216 shares during the last quarter. Private Capital Management LLC purchased a new stake in IBEX in the 4th quarter worth about $920,000. Finally, Quadrature Capital Ltd purchased a new position in IBEX during the 1st quarter valued at about $349,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IBEX. Robert W. Baird upped their price objective on shares of IBEX from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada increased their target price 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.50.

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.