Short Interest in IBEX Limited (NASDAQ:IBEX) Grows By 11.6%

IBEX Limited (NASDAQ:IBEXGet Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 113,900 shares, a growth of 11.6% from the February 29th total of 102,100 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average trading volume of 68,900 shares, the days-to-cover ratio is presently 1.7 days.

IBEX Price Performance

Shares of IBEX stock opened at $15.00 on Tuesday. The business has a 50-day simple moving average of $15.99 and a 200 day simple moving average of $16.74. The firm has a market capitalization of $263.55 million, a price-to-earnings ratio of 9.55 and a beta of 0.62. IBEX has a one year low of $11.45 and a one year high of $26.40.

IBEX (NASDAQ:IBEXGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). IBEX had a return on equity of 20.10% and a net margin of 5.79%. The firm had revenue of $132.63 million for the quarter, compared to analyst estimates of $137.38 million. On average, sell-side analysts expect that IBEX will post 1.82 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on IBEX. Truist Financial lowered their price objective on IBEX from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, February 9th. TheStreet lowered IBEX from a “b-” rating to a “c+” rating in a research note on Wednesday, March 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $17.00 price objective on shares of IBEX in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.80.

Read Our Latest Research Report on IBEX

Insider Transactions at IBEX

In other IBEX news, insider Jeffrey Hays Cox sold 9,383 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.05, for a total transaction of $150,597.15. Following the completion of the sale, the insider now owns 385,251 shares of the company’s stock, valued at approximately $6,183,278.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its position in IBEX by 15.6% in the 1st quarter. Sei Investments Co. now owns 108,091 shares of the company’s stock valued at $1,723,000 after acquiring an additional 14,605 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of IBEX by 3.2% in the first quarter. Vanguard Group Inc. now owns 28,889 shares of the company’s stock valued at $461,000 after purchasing an additional 904 shares in the last quarter. State Street Corp boosted its position in shares of IBEX by 18.2% during the first quarter. State Street Corp now owns 76,699 shares of the company’s stock valued at $1,223,000 after buying an additional 11,793 shares during the last quarter. Wellington Management Group LLP grew its holdings in IBEX by 5.0% during the first quarter. Wellington Management Group LLP now owns 385,755 shares of the company’s stock worth $6,149,000 after buying an additional 18,455 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in IBEX by 40.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,728 shares of the company’s stock valued at $273,000 after buying an additional 4,256 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

IBEX Company Profile

(Get Free Report)

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.

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