Globeflex Capital L P Cuts Stock Holdings in IBEX Limited $IBEX

Globeflex Capital L P trimmed its stake in IBEX Limited (NASDAQ:IBEX) by 50.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,475 shares of the company’s stock after selling 105,310 shares during the period. Globeflex Capital L P owned approximately 0.77% of IBEX worth $2,748,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in IBEX in the 3rd quarter worth approximately $46,000. Empowered Funds LLC purchased a new stake in shares of IBEX during the 4th quarter valued at $84,000. Clearstead Advisors LLC raised its position in shares of IBEX by 159.1% during the 4th quarter. Clearstead Advisors LLC now owns 2,635 shares of the company’s stock valued at $101,000 after buying an additional 1,618 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of IBEX by 418.7% during the 4th quarter. State of Alaska Department of Revenue now owns 2,718 shares of the company’s stock worth $103,000 after acquiring an additional 2,194 shares during the last quarter. Finally, Amundi bought a new stake in shares of IBEX during the 1st quarter worth $74,000. 81.24% of the stock is currently owned by institutional investors.

IBEX Price Performance

Shares of IBEX opened at $33.10 on Thursday. IBEX Limited has a 1 year low of $25.94 and a 1 year high of $42.99. The stock has a 50 day simple moving average of $31.66 and a two-hundred day simple moving average of $31.41. The firm has a market cap of $443.21 million, a P/E ratio of 10.34 and a beta of 0.71.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $164.41 million for the quarter, compared to the consensus estimate of $157.00 million. IBEX had a net margin of 7.53% and a return on equity of 31.50%.

Insider Activity at IBEX

In related news, CEO Robert Thomas Dechant sold 7,800 shares of IBEX stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $30.50, for a total value of $237,900.00. Following the transaction, the chief executive officer owned 285,606 shares in the company, valued at $8,710,983. This trade represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Mcginnis sold 1,030 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $31.69, for a total transaction of $32,640.70. Following the sale, the director owned 5,833 shares of the company’s stock, valued at approximately $184,847.77. The trade was a 15.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,783 shares of company stock worth $989,126 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of IBEX in a research note on Monday, May 4th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.00.

IBEX Company Profile

IBEX Holdings, Inc is a global business process outsourcing (BPO) company that specializes in customer experience solutions for a range of industries, including telecommunications, cable, technology, financial services and e-commerce. The company’s core offerings encompass multichannel customer support delivered via voice, email, chat, social media and digital self-service platforms. In addition to front-line contact center services, IBEX provides back-office processing, order management, technical troubleshooting and analytics-driven insights to help clients optimize operational efficiency and customer satisfaction.

Beyond traditional contact center operations, IBEX has built a proprietary technology stack designed to integrate real-time data analytics, workforce management and quality assurance.