Allspring Global Investments Holdings LLC Lowers Position in IBEX Limited (NASDAQ:IBEX)

Allspring Global Investments Holdings LLC trimmed its stake in shares of IBEX Limited (NASDAQ:IBEX) by 12.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,040 shares of the company’s stock after selling 4,293 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of IBEX worth $590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP raised its holdings in shares of IBEX by 126.4% during the 3rd quarter. Quantbot Technologies LP now owns 4,560 shares of the company’s stock worth $70,000 after acquiring an additional 2,546 shares in the last quarter. Barclays PLC raised its stake in IBEX by 15.9% during the third quarter. Barclays PLC now owns 9,932 shares of the company’s stock valued at $154,000 after purchasing an additional 1,363 shares in the last quarter. Seizert Capital Partners LLC bought a new position in IBEX during the third quarter valued at $263,000. Trexquant Investment LP grew its stake in shares of IBEX by 13.0% in the 3rd quarter. Trexquant Investment LP now owns 18,106 shares of the company’s stock worth $280,000 after buying an additional 2,085 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of IBEX by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 26,176 shares of the company’s stock worth $404,000 after buying an additional 748 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

IBEX Stock Performance

Shares of NASDAQ IBEX opened at $13.06 on Friday. The stock has a 50 day moving average price of $14.72 and a 200 day moving average price of $16.54. The firm has a market capitalization of $229.46 million, a price-to-earnings ratio of 8.32 and a beta of 0.62. IBEX Limited has a 52-week low of $11.45 and a 52-week high of $23.49.

IBEX (NASDAQ:IBEX) last issued its earnings results on Thursday, February 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.10). The firm had revenue of $132.63 million during the quarter, compared to analysts’ expectations of $137.38 million. IBEX had a return on equity of 20.10% and a net margin of 5.79%. Analysts forecast that IBEX Limited will post 1.95 earnings per share for the current year.

Insider Buying and Selling

In other IBEX news, insider Jeffrey Hays Cox sold 9,383 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.05, for a total transaction of $150,597.15. Following the transaction, 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 available at the SEC website. 20.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. TheStreet lowered IBEX from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 target price on shares of IBEX in a report on Friday, February 9th. Truist Financial decreased their price target on IBEX from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Finally, Robert W. Baird dropped their price objective on shares of IBEX from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.20.

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.