Bank of New York Mellon Corp Lowers Position in IBEX Limited (NASDAQ:IBEX)

Bank of New York Mellon Corp trimmed its stake in shares of IBEX Limited (NASDAQ:IBEX) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,938 shares of the company’s stock after selling 1,322 shares during the period. Bank of New York Mellon Corp’s holdings in IBEX were worth $407,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IBEX. Sanctuary Advisors LLC purchased a new position in shares of IBEX in the 4th quarter worth $1,411,000. Walleye Capital LLC purchased a new position in IBEX in the third quarter worth about $556,000. Quadrature Capital Ltd purchased a new position in IBEX in the third quarter worth about $522,000. Virtu Financial LLC purchased a new stake in IBEX during the third quarter valued at approximately $380,000. Finally, Jane Street Group LLC lifted its stake in shares of IBEX by 114.6% in the 3rd quarter. Jane Street Group LLC now owns 29,960 shares of the company’s stock valued at $599,000 after purchasing an additional 15,999 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Insider Transactions at IBEX

In other IBEX news, CEO Robert Thomas Dechant sold 3,008 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $22.50, for a total transaction of $67,680.00. Following the sale, the chief executive officer now directly owns 223,633 shares of the company’s stock, valued at approximately $5,031,742.50. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shuja Keen sold 11,199 shares of IBEX stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $21.95, for a total value of $245,818.05. Following the transaction, the director now owns 47,727 shares of the company’s stock, valued at approximately $1,047,607.65. This represents a 19.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,412 shares of company stock valued at $4,659,939. Corporate insiders own 6.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their price objective on shares of IBEX from $21.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th.

IBEX Trading Down 3.2 %

Shares of NASDAQ IBEX opened at $24.42 on Friday. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $27.83. The firm has a market cap of $322.15 million, a PE ratio of 11.46 and a beta of 0.75. The business has a fifty day simple moving average of $24.51 and a two-hundred day simple moving average of $21.48. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.01.

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

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.