IBEX Limited (NASDAQ:IBEX) Short Interest Update

IBEX Limited (NASDAQ:IBEX) saw 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. Based on an average trading volume of 52,900 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.8% of the shares of the stock are sold short.

Insider Buying and Selling at IBEX

In related news, Director Shuja Keen sold 6,086 shares of IBEX stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $20.46, for a total transaction of $124,519.56. Following the completion of the transaction, the director now directly owns 140,024 shares of the company’s stock, valued at approximately $2,864,891.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On IBEX

Several large investors have recently made changes to their positions in IBEX. Sei Investments Co. grew its stake in IBEX by 12.1% in the second quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock valued at $2,327,000 after purchasing an additional 15,507 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of IBEX by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company’s stock valued at $3,228,000 after buying an additional 3,052 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of IBEX in the second quarter valued at $38,000. American Century Companies Inc. increased its holdings in IBEX by 4.3% during the second quarter. American Century Companies Inc. now owns 1,338,863 shares of the company’s stock worth $21,663,000 after buying an additional 55,216 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in IBEX by 5.9% during the second quarter. Victory Capital Management Inc. now owns 55,207 shares of the company’s stock worth $893,000 after acquiring an additional 3,084 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

IBEX Stock Up 2.3 %

NASDAQ IBEX traded up $0.44 during trading hours on Wednesday, reaching $19.55. 106,846 shares of the company’s stock were exchanged, compared to its average volume of 60,826. 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 company has a market capitalization of $336.53 million, a price-to-earnings ratio of 12.49 and a beta of 0.73. The company’s 50-day moving average is $16.86 and its two-hundred day moving average is $15.66. IBEX has a one year low of $13.00 and a one year high of $20.56.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IBEX. Robert W. Baird raised their target price on shares of IBEX from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada lifted their target price on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.50.

About IBEX

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.