Insider Selling: IBEX (NASDAQ:IBEX) COO Sells 17,500 Shares of Stock

by · The Cerbat Gem

IBEX Limited (NASDAQ:IBEX – Get Free Report) COO David Afdahl sold 17,500 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $37.09, for a total transaction of $649,075.00. Following the completion of the sale, the chief operating officer directly owned 140,006 shares of the company’s stock, valued at $5,192,822.54. This trade represents a 11.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

IBEX Price Performance

NASDAQ:IBEX traded up $0.22 during mid-day trading on Thursday, reaching $37.26. 182,012 shares of the company’s stock traded hands, compared to its average volume of 98,808. IBEX Limited has a 12-month low of $25.94 and a 12-month high of $42.99. The company has a 50 day moving average price of $35.70 and a 200-day moving average price of $31.66. The firm has a market capitalization of $498.91 million, a price-to-earnings ratio of 11.64 and a beta of 0.72.

IBEX (NASDAQ:IBEX – Get Free Report) last released its quarterly earnings results on Friday, September 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. IBEX had a net margin of 7.53% and a return on equity of 31.50%. The business had revenue of $164.27 million for the quarter, compared to analysts’ expectations of $160.02 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of IBEX in a report on Friday, July 31st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.00.

Read Our Latest Stock Analysis on IBEX

Institutional Trading of IBEX

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Wealth Management Advisory Group LLC boosted its stake in IBEX by 33.0% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company’s stock worth $321,000 after acquiring an additional 2,625 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of IBEX by 6.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,982 shares of the company’s stock worth $2,581,000 after purchasing an additional 5,127 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of IBEX by 667.7% in the 2nd quarter. California State Teachers Retirement System now owns 4,161 shares of the company’s stock worth $137,000 after buying an additional 3,619 shares during the last quarter. Globeflex Capital L P purchased a new stake in shares of IBEX in the 2nd quarter worth approximately $3,112,000. Finally, Tieton Capital Management LLC bought a new position in IBEX during the 2nd quarter valued at approximately $8,353,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

About IBEX

(Get Free Report)

IBEX Holdings, Inc is a global business process outsourcing (BPO) company that specializes in customer experience solutions for a range of industries, including telecommunications, cable, technology, financial services and e-commerce. The company’s core offerings encompass multichannel customer support delivered via voice, email, chat, social media and digital self-service platforms. In addition to front-line contact center services, IBEX provides back-office processing, order management, technical troubleshooting and analytics-driven insights to help clients optimize operational efficiency and customer satisfaction.

Beyond traditional contact center operations, IBEX has built a proprietary technology stack designed to integrate real-time data analytics, workforce management and quality assurance.

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