Short Interest in IBEX Limited (NASDAQ:IBEX) Decreases By 7.2%

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

Insider Buying and Selling

In other IBEX news, Director Shuja Keen sold 6,086 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $20.46, for a total value of $124,519.56. Following the sale, the director now owns 140,024 shares in the company, valued at $2,864,891.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.80% of the stock is currently owned by corporate insiders.

Institutional Trading of IBEX

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of IBEX by 4.3% in the second quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock valued at $21,663,000 after buying an additional 55,216 shares during the period. Circumference Group LLC bought a new stake in shares of IBEX during the 4th quarter valued at $7,842,000. Kennedy Capital Management LLC grew its holdings 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 worth $4,362,000 after purchasing an additional 218,679 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of IBEX by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company’s stock worth $3,228,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of IBEX by 12.1% in the second quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock worth $2,327,000 after purchasing an additional 15,507 shares during the period. Institutional investors own 81.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Robert W. Baird upped their price target on shares of IBEX from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, IBEX currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

IBEX Stock Performance

NASDAQ IBEX traded up $0.44 on Wednesday, reaching $19.55. The stock had a trading volume of 106,846 shares, compared to its average volume of 60,826. IBEX has a 1-year low of $13.00 and a 1-year high of $20.56. The company has a market cap of $336.53 million, a P/E ratio of 12.49 and a beta of 0.73. The firm has a fifty day moving average of $16.86 and a two-hundred day moving average of $15.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.42 and a quick ratio of 2.42.

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.