Gem G.P. L.P. Pinebridge II Sells 78,728 Shares of IBEX Limited (NASDAQ:IBEX) Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $20.12, for a total transaction of $1,584,007.36. Following the completion of the transaction, the insider now owns 1,641,011 shares in the company, valued at approximately $33,017,141.32. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 shares were sold at an average price of $19.82, for a total value of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.89, for a total transaction of $397,800.00.

IBEX Price Performance

Shares of NASDAQ IBEX opened at $20.60 on Monday. IBEX Limited has a fifty-two week low of $13.00 and a fifty-two week high of $21.63. The firm has a market capitalization of $345.36 million, a P/E ratio of 10.90 and a beta of 0.76. The company’s 50 day simple moving average is $19.30 and its 200 day simple moving average is $17.30.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. IBEX had a return on equity of 22.54% and a net margin of 6.57%. The company had revenue of $124.53 million for the quarter.

Hedge Funds Weigh In On IBEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of IBEX in the 3rd quarter valued at approximately $380,000. Barclays PLC increased its stake in IBEX by 95.2% in the third quarter. Barclays PLC now owns 20,636 shares of the company’s stock valued at $412,000 after purchasing an additional 10,062 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in IBEX in the third quarter worth $68,000. Jane Street Group LLC boosted its position in shares of IBEX by 114.6% during the third quarter. Jane Street Group LLC now owns 29,960 shares of the company’s stock worth $599,000 after purchasing an additional 15,999 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of IBEX by 1.2% in the 3rd quarter. State Street Corp now owns 181,035 shares of the company’s stock valued at $3,617,000 after buying an additional 2,105 shares during the period. Institutional investors own 81.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBEX. Robert W. Baird increased their price target 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 boosted their target price on IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, IBEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

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.