Bank of America Corp DE Increases Holdings in IBEX Limited (NASDAQ:IBEX)

Bank of America Corp DE boosted its stake in IBEX Limited (NASDAQ:IBEX) by 206.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,787 shares of the company’s stock after purchasing an additional 26,822 shares during the period. Bank of America Corp DE’s holdings in IBEX were worth $855,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in IBEX. Heron Bay Capital Management boosted its position in shares of IBEX by 4.8% in the fourth quarter. Heron Bay Capital Management now owns 17,640 shares of the company’s stock worth $379,000 after buying an additional 810 shares during the period. Wells Fargo & Company MN lifted its position in IBEX by 24.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,024 shares of the company’s stock worth $108,000 after acquiring an additional 990 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in IBEX by 267.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,925 shares of the company’s stock worth $41,000 after acquiring an additional 1,401 shares during the period. Barclays PLC grew its position in IBEX by 6.8% in the fourth quarter. Barclays PLC now owns 22,046 shares of the company’s stock valued at $473,000 after acquiring an additional 1,410 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in IBEX by 8,785.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,866 shares of the company’s stock valued at $40,000 after acquiring an additional 1,845 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

IBEX Trading Up 1.1%

Shares of IBEX opened at $29.91 on Monday. IBEX Limited has a one year low of $15.15 and a one year high of $32.08. The stock has a 50-day moving average price of $26.01 and a 200 day moving average price of $23.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $399.96 million, a P/E ratio of 14.04 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird downgraded shares of IBEX from an “outperform” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Monday, May 12th. Baird R W lowered shares of IBEX from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th.

Insider Buying and Selling at IBEX

In other news, insider Paul Joseph Inson sold 3,690 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $28.59, for a total transaction of $105,497.10. Following the transaction, the insider now owns 17,352 shares of the company’s stock, valued at approximately $496,093.68. This trade represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.72% of the stock is currently owned by corporate insiders.

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.