IBEX Limited (NASDAQ:IBEX) Short Interest Down 7.2% in August

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

IBEX Stock Up 3.2 %

Shares of IBEX stock opened at $19.73 on Thursday. The stock’s 50-day simple moving average is $16.93 and its 200-day simple moving average is $15.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market capitalization of $339.63 million, a PE ratio of 12.90 and a beta of 0.73. IBEX has a fifty-two week low of $13.00 and a fifty-two week high of $20.56.

Insider Buying and Selling at IBEX

In other news, Director Shuja Keen sold 6,086 shares of the business’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 transaction of $124,519.56. Following the transaction, the director now directly owns 140,024 shares of the company’s stock, valued at $2,864,891.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On IBEX

A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in shares of IBEX in the second quarter valued at approximately $38,000. Quadrature Capital Ltd acquired a new stake in IBEX during the first quarter worth $349,000. Bank of New York Mellon Corp increased its stake in IBEX by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $447,000 after acquiring an additional 3,759 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in IBEX by 6.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock worth $528,000 after acquiring an additional 1,874 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in IBEX by 96.8% during the fourth quarter. Trexquant Investment LP now owns 35,627 shares of the company’s stock worth $677,000 after acquiring an additional 17,521 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBEX. Robert W. Baird increased their target price on IBEX from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada raised their price target on IBEX from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

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.