Short Interest in IBEX Limited (NASDAQ:IBEX) Rises By 52.7%

IBEX Limited (NASDAQ:IBEX) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 204,100 shares, an increase of 52.7% from the March 15th total of 133,700 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average trading volume of 205,300 shares, the short-interest ratio is presently 1.0 days.

IBEX Stock Down 0.5 %

IBEX stock traded down $0.11 during midday trading on Thursday, reaching $23.35. The company had a trading volume of 55,256 shares, compared to its average volume of 196,438. The company has a 50 day moving average of $24.89 and a two-hundred day moving average of $21.92. The company has a market capitalization of $308.03 million, a P/E ratio of 10.96 and a beta of 0.75. IBEX has a 1 year low of $13.00 and a 1 year high of $27.83. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01.

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

Analyst Ratings Changes

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 report on Friday, February 7th.

Insider Activity

In related news, Director Mohammedulla Khaishgi sold 4,626 shares of IBEX stock in a transaction on Monday, January 27th. The stock was sold at an average price of $22.50, for a total value of $104,085.00. Following the transaction, the director now owns 216,718 shares in the company, valued at approximately $4,876,155. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Thomas Dechant sold 1,792 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $22.50, for a total value of $40,320.00. Following the completion of the transaction, the chief executive officer now directly owns 226,841 shares in the company, valued at $5,103,922.50. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,213 shares of company stock valued at $4,414,121 over the last quarter. Corporate insiders own 6.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IBEX. Royce & Associates LP lifted its position in IBEX by 3.7% in the fourth quarter. Royce & Associates LP now owns 548,481 shares of the company’s stock worth $11,787,000 after purchasing an additional 19,481 shares during the period. Wellington Management Group LLP boosted its holdings in shares of IBEX by 4.6% in the 4th quarter. Wellington Management Group LLP now owns 545,175 shares of the company’s stock worth $11,716,000 after acquiring an additional 23,800 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in IBEX by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 510,402 shares of the company’s stock worth $10,969,000 after purchasing an additional 4,777 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of IBEX by 30.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 326,141 shares of the company’s stock valued at $7,009,000 after buying an additional 76,302 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in IBEX by 18.8% during the 4th quarter. Franklin Resources Inc. now owns 296,114 shares of the company’s stock worth $6,363,000 after acquiring an additional 46,849 shares during the last quarter. 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.