IBEX Limited (NASDAQ:IBEX) Sees Significant Increase in Short Interest

IBEX Limited (NASDAQ:IBEX) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 161,700 shares, an increase of 9.1% from the May 31st total of 148,200 shares. Based on an average trading volume of 39,500 shares, the short-interest ratio is presently 4.1 days. Approximately 1.7% of the shares of the stock are short sold.

IBEX Stock Down 1.9 %

Shares of NASDAQ IBEX opened at $15.84 on Thursday. IBEX has a 12-month low of $11.45 and a 12-month high of $21.37. The company has a market cap of $272.61 million, a P/E ratio of 10.35 and a beta of 0.74. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $15.21 and a 200 day moving average price of $15.83.

IBEX (NASDAQ:IBEX) last announced its earnings results on Thursday, May 9th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.09. The company had revenue of $126.80 million during the quarter. IBEX had a return on equity of 20.23% and a net margin of 5.57%. During the same quarter in the prior year, the business earned $0.52 earnings per share.

Hedge Funds Weigh In On IBEX

A number of hedge funds have recently bought and sold shares of IBEX. Jacobs Levy Equity Management Inc. lifted its holdings in IBEX by 9.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 37,390 shares of the company’s stock worth $577,000 after acquiring an additional 3,191 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of IBEX by 341.7% during the first quarter. Kennedy Capital Management LLC now owns 282,675 shares of the company’s stock valued at $4,362,000 after acquiring an additional 218,679 shares during the period. Quadrature Capital Ltd acquired a new position in IBEX in the first quarter worth approximately $349,000. Private Capital Management LLC acquired a new position in IBEX in the fourth quarter worth approximately $920,000. Finally, Resource Group International Ltd acquired a new position in IBEX in the fourth quarter worth approximately $103,964,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBEX. TheStreet cut IBEX from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th. Robert W. Baird reduced their price target on IBEX from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.20.

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.