Russell Investments Group Ltd. Increases Stake in IBEX Limited (NASDAQ:IBEX)

Russell Investments Group Ltd. raised its position in shares of IBEX Limited (NASDAQ:IBEX) by 8,785.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,866 shares of the company’s stock after acquiring an additional 1,845 shares during the period. Russell Investments Group Ltd.’s holdings in IBEX were worth $40,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of IBEX. JPMorgan Chase & Co. grew its stake in shares of IBEX by 386.9% in the third quarter. JPMorgan Chase & Co. now owns 19,345 shares of the company’s stock valued at $387,000 after buying an additional 15,372 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of IBEX in the 4th quarter worth about $1,411,000. Jane Street Group LLC lifted its holdings in IBEX by 114.6% during the 3rd quarter. Jane Street Group LLC now owns 29,960 shares of the company’s stock worth $599,000 after buying an additional 15,999 shares during the last quarter. Ritholtz Wealth Management lifted its stake in IBEX by 76.9% during the fourth quarter. Ritholtz Wealth Management now owns 32,859 shares of the company’s stock worth $706,000 after purchasing an additional 14,279 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of IBEX by 95.2% in the 3rd quarter. Barclays PLC now owns 20,636 shares of the company’s stock worth $412,000 after buying an additional 10,062 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

IBEX Trading Up 0.4 %

NASDAQ:IBEX opened at $24.66 on Monday. The business has a fifty day moving average of $24.48 and a 200-day moving average of $22.17. The stock has a market cap of $325.31 million, a price-to-earnings ratio of 11.58 and a beta of 0.75. IBEX Limited has a 1 year low of $13.10 and a 1 year high of $27.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 1.44.

IBEX (NASDAQ:IBEX) last announced 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%.

Insider Buying and Selling at IBEX

In other IBEX news, CEO Robert Thomas Dechant sold 49,931 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $26.24, for a total transaction of $1,310,189.44. Following the sale, the chief executive officer now directly owns 213,633 shares of the company’s stock, valued at $5,605,729.92. The trade was a 18.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Neil Dawson sold 13,500 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.00, for a total value of $324,000.00. Following the transaction, the insider now directly owns 5,607 shares in the company, valued at $134,568. The trade was a 70.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,373 shares of company stock valued at $4,170,221. Corporate insiders own 6.72% of the company’s stock.

Analysts Set New Price Targets

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

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.