Wellington Management Group LLP Sells 258,621 Shares of IBEX Limited (NASDAQ:IBEX)

Wellington Management Group LLP lessened its position in shares of IBEX Limited (NASDAQ:IBEX) by 33.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 521,375 shares of the company’s stock after selling 258,621 shares during the period. Wellington Management Group LLP’s holdings in IBEX were worth $10,417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of IBEX by 1.2% during the third quarter. State Street Corp now owns 181,035 shares of the company’s stock worth $3,617,000 after buying an additional 2,105 shares during the period. Quadrature Capital Ltd bought a new stake in IBEX in the 3rd quarter valued at approximately $522,000. Jacobs Levy Equity Management Inc. boosted its position in IBEX by 20.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 85,149 shares of the company’s stock worth $1,701,000 after acquiring an additional 14,411 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of IBEX by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 17,361 shares of the company’s stock worth $347,000 after acquiring an additional 1,842 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of IBEX during the 3rd quarter worth approximately $556,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

Insider Activity at IBEX

In other IBEX news, Director Mohammedulla Khaishgi sold 4,880 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.00, for a total value of $97,600.00. Following the sale, the director now owns 296,711 shares in the company, valued at $5,934,220. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Group International L. Resource sold 59,269 shares of IBEX stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $20.05, for a total value of $1,188,343.45. Following the transaction, the director now owns 5,375,114 shares of the company’s stock, valued at $107,771,035.70. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 451,329 shares of company stock worth $9,021,471. Insiders own 6.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IBEX shares. Robert W. Baird increased their target price on shares of IBEX from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada increased their price objective on shares of IBEX from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.25.

IBEX Trading Down 1.1 %

NASDAQ:IBEX opened at $20.07 on Monday. The stock has a market capitalization of $336.47 million, a PE ratio of 10.62 and a beta of 0.80. IBEX Limited has a 1-year low of $13.00 and a 1-year high of $21.63. The firm has a fifty day simple moving average of $19.48 and a 200 day simple moving average of $17.85.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.54 EPS for the quarter. The company had revenue of $124.53 million during the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.54%.

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.