Renaissance Technologies LLC Reduces Holdings in IBEX Limited (NASDAQ:IBEX)

Renaissance Technologies LLC lessened its stake in IBEX Limited (NASDAQ:IBEX) by 31.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,800 shares of the company’s stock after selling 13,500 shares during the period. Renaissance Technologies LLC owned 0.17% of IBEX worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in IBEX. Meeder Asset Management Inc. acquired a new position in IBEX in the second quarter valued at $38,000. Quadrature Capital Ltd purchased a new stake in IBEX during the first quarter worth about $349,000. Bank of New York Mellon Corp increased its stake in IBEX by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock valued at $447,000 after purchasing an additional 3,759 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of IBEX by 6.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,607 shares of the company’s stock worth $528,000 after buying an additional 1,874 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of IBEX by 9.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 37,390 shares of the company’s stock valued at $577,000 after purchasing an additional 3,191 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

IBEX Price Performance

IBEX stock opened at $19.20 on Friday. The stock has a 50-day moving average price of $17.73 and a two-hundred day moving average price of $16.12. The company has a market cap of $330.51 million, a PE ratio of 12.55 and a beta of 0.74. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.01. IBEX Limited has a 12-month low of $13.00 and a 12-month high of $20.56.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.54 earnings per share for the quarter. IBEX had a net margin of 6.62% and a return on equity of 22.04%. The firm had revenue of $124.53 million for the quarter.

Analyst Ratings Changes

A number of research firms recently commented on IBEX. Robert W. Baird lifted their price objective on IBEX from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Royal Bank of Canada raised their price objective on IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Activity

In other news, Director Shuja Keen sold 15,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $19.95, for a total transaction of $299,250.00. Following the transaction, the director now owns 146,110 shares of the company’s stock, valued at approximately $2,914,894.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Shuja Keen sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $19.95, for a total value of $299,250.00. Following the sale, the director now owns 146,110 shares of the company’s stock, valued at approximately $2,914,894.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mohammedulla Khaishgi sold 1,883 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $20.00, for a total transaction of $37,660.00. Following the transaction, the director now owns 99,636 shares of the company’s stock, valued at $1,992,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,760 shares of company stock worth $3,681,160 over the last ninety days. Corporate insiders own 20.80% of the company’s stock.

IBEX 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.