IBEX Limited (NASDAQ:IBEX) Short Interest Update

IBEX Limited (NASDAQ:IBEXGet Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 113,900 shares, a growth of 11.6% from the February 29th total of 102,100 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 68,900 shares, the short-interest ratio is currently 1.7 days.

IBEX Stock Down 3.9 %

Shares of IBEX stock opened at $14.41 on Wednesday. IBEX has a 12-month low of $11.45 and a 12-month high of $26.40. The stock has a 50 day moving average price of $15.90 and a two-hundred day moving average price of $16.75. The stock has a market capitalization of $253.21 million, a P/E ratio of 9.18 and a beta of 0.62.

IBEX (NASDAQ:IBEXGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). IBEX had a return on equity of 20.10% and a net margin of 5.79%. The firm had revenue of $132.63 million for the quarter, compared to the consensus estimate of $137.38 million. Sell-side analysts anticipate that IBEX will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In other IBEX news, insider Jeffrey Hays Cox sold 9,383 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.05, for a total transaction of $150,597.15. Following the sale, the insider now directly owns 385,251 shares of the company’s stock, valued at approximately $6,183,278.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 20.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IBEX. Legal & General Group Plc raised its stake in IBEX by 82.7% during the 4th quarter. Legal & General Group Plc now owns 1,047 shares of the company’s stock valued at $26,000 after purchasing an additional 474 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of IBEX by 12.6% during the third quarter. Lazard Asset Management LLC now owns 5,201 shares of the company’s stock valued at $80,000 after buying an additional 583 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of IBEX by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,674 shares of the company’s stock valued at $504,000 after buying an additional 636 shares during the period. Amalgamated Bank grew its position in IBEX by 80.7% during the fourth quarter. Amalgamated Bank now owns 1,635 shares of the company’s stock worth $41,000 after buying an additional 730 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in IBEX by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 26,176 shares of the company’s stock valued at $404,000 after acquiring an additional 748 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price objective on shares of IBEX in a research note on Friday, February 9th. Truist Financial cut their price target on IBEX from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, TheStreet lowered shares of IBEX from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.80.

View Our Latest Analysis on IBEX

About IBEX

(Get Free Report)

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.

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