Ritholtz Wealth Management Boosts Stake in IBEX Limited (NASDAQ:IBEX)

Ritholtz Wealth Management lifted its holdings in IBEX Limited (NASDAQ:IBEX) by 76.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,859 shares of the company’s stock after purchasing an additional 14,279 shares during the quarter. Ritholtz Wealth Management owned 0.20% of IBEX worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in IBEX by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 199,529 shares of the company’s stock valued at $3,228,000 after acquiring an additional 3,052 shares during the last quarter. State Street Corp increased its position in IBEX by 1.2% during the third quarter. State Street Corp now owns 181,035 shares of the company’s stock valued at $3,617,000 after acquiring an additional 2,105 shares during the last quarter. Sei Investments Co. increased its position in IBEX by 12.1% during the second quarter. Sei Investments Co. now owns 143,812 shares of the company’s stock valued at $2,327,000 after acquiring an additional 15,507 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in IBEX by 20.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 85,149 shares of the company’s stock valued at $1,701,000 after acquiring an additional 14,411 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in IBEX by 6.2% during the third quarter. Victory Capital Management Inc. now owns 58,657 shares of the company’s stock valued at $1,172,000 after acquiring an additional 3,450 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Buying and Selling at IBEX

In other news, Director Shuja Keen sold 17,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $20.27, for a total value of $344,590.00. Following the completion of the transaction, the director now owns 71,110 shares of the company’s stock, valued at $1,441,399.70. This represents a 19.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Group International L. Resource sold 2,011 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $20.00, for a total value of $40,220.00. Following the completion of the transaction, the director now directly owns 5,348,432 shares of the company’s stock, valued at approximately $106,968,640. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,854 shares of company stock valued at $6,409,898. Company insiders own 6.72% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price objective on IBEX from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

IBEX Stock Performance

NASDAQ:IBEX opened at $22.13 on Tuesday. The stock has a 50-day simple moving average of $20.67 and a two-hundred day simple moving average of $18.77. IBEX Limited has a 52-week low of $13.00 and a 52-week high of $22.48. The firm has a market capitalization of $370.90 million, a PE ratio of 11.71 and a beta of 0.78.

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.