IBEX Limited (NASDAQ:IBEX) Short Interest Up 19.9% in March

IBEX Limited (NASDAQ:IBEX) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 133,700 shares, a growth of 19.9% from the February 28th total of 111,500 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average trading volume of 200,700 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their target price on IBEX from $21.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th.

Insiders Place Their Bets

In related news, Director Mohammedulla Khaishgi sold 12,600 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.50, for a total value of $333,900.00. Following the completion of the sale, the director now owns 89,912 shares in the company, valued at approximately $2,382,668. This represents a 12.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Thomas Dechant sold 1,792 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $22.50, for a total value of $40,320.00. Following the sale, the chief executive officer now directly owns 226,841 shares in the company, valued at approximately $5,103,922.50. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,213 shares of company stock worth $4,414,121. 6.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IBEX

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in IBEX by 1,369.6% in the fourth quarter. JPMorgan Chase & Co. now owns 284,292 shares of the company’s stock worth $6,109,000 after acquiring an additional 264,947 shares during the period. Impact Capital Partners LLC bought a new position in shares of IBEX in the fourth quarter worth approximately $4,829,000. Dimensional Fund Advisors LP increased its holdings in IBEX by 30.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 326,141 shares of the company’s stock worth $7,009,000 after buying an additional 76,302 shares in the last quarter. Walleye Capital LLC lifted its position in IBEX by 267.2% during the fourth quarter. Walleye Capital LLC now owns 102,220 shares of the company’s stock valued at $2,197,000 after purchasing an additional 74,380 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of IBEX by 97.7% in the fourth quarter. Two Sigma Advisers LP now owns 145,700 shares of the company’s stock worth $3,131,000 after acquiring an additional 72,000 shares during the period. 81.24% of the stock is owned by hedge funds and other institutional investors.

IBEX Trading Down 2.5 %

Shares of IBEX traded down $0.63 during trading hours on Thursday, hitting $24.35. 24,171 shares of the stock were exchanged, compared to its average volume of 110,895. IBEX has a fifty-two week low of $13.00 and a fifty-two week high of $27.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50-day moving average of $24.67 and a 200-day moving average of $21.67. The firm has a market capitalization of $321.23 million, a P/E ratio of 11.43 and a beta of 0.75.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. IBEX had a return on equity of 25.29% and a net margin of 7.08%.

IBEX Company 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.