Insider Selling: IBEX Limited (NASDAQ:IBEX) Major Shareholder Sells 20,000 Shares of Stock

IBEX Limited (NASDAQ:IBEX) major shareholder Gem G.P. L.P. Pinebridge II sold 20,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider now directly owns 1,309,781 shares in the company, valued at approximately $26,195,620. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock 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 Monday, December 9th, Gem G.P. L.P. Pinebridge II sold 23,735 shares of IBEX stock. The stock was sold at an average price of $20.02, for a total value of $475,174.70.
• On Wednesday, December 4th, Gem G.P. L.P. Pinebridge II sold 82,572 shares of IBEX stock. The shares were sold at an average price of $20.20, for a total value of $1,667,954.40.
• On Monday, December 2nd, Gem G.P. L.P. Pinebridge II sold 25,878 shares of IBEX stock. The stock was sold at an average price of $20.75, for a total transaction of $536,968.50.
• On Wednesday, November 20th, Gem G.P. L.P. Pinebridge II sold 78,728 shares of IBEX stock. The stock was sold at an average price of $20.12, for a total value of $1,584,007.36.
• 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 value of $373,787.26.
• On Tuesday, October 8th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The stock was sold at an average price of $19.05, for a total transaction of $381,000.00.
• On Wednesday, October 2nd, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were 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 stock was sold at an average price of $19.82, for a total transaction of $396,400.00.
• On Wednesday, September 25th, Gem G.P. L.P. Pinebridge II sold 20,000 shares of IBEX stock. The shares were sold at an average price of $19.89, for a total transaction of $397,800.00.

IBEX Stock Performance

IBEX opened at $20.45 on Wednesday. IBEX Limited has a 1 year low of $13.00 and a 1 year high of $21.63. The company’s 50 day simple moving average is $19.52 and its 200 day simple moving average is $17.91. The stock has a market capitalization of $342.84 million, a PE ratio of 10.82 and a beta of 0.80.

Institutional Investors Weigh In On IBEX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of IBEX during the 3rd quarter worth approximately $380,000. Barclays PLC lifted 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 buying an additional 10,062 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of IBEX during the third quarter valued at $68,000. Jane Street Group LLC grew 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 acquiring an additional 15,999 shares during the last quarter. Finally, State Street Corp grew its position in shares of IBEX by 1.2% during the third quarter. State Street Corp now owns 181,035 shares of the company’s stock worth $3,617,000 after acquiring an additional 2,105 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IBEX. Royal Bank of Canada raised their price objective on IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Robert W. Baird upped their target price on shares of IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, IBEX presently has an average rating of “Moderate Buy” and an average 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.