IBEX Limited (NASDAQ:IBEX) Short Interest Up 6.2% in November

IBEX Limited (NASDAQ:IBEX - Get Free Report) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 148,000 shares, a growth of 6.2% from the November 15th total of 139,400 shares. Based on an average daily volume of 127,400 shares, the short-interest ratio is presently 1.2 days. Approximately 1.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

IBEX Price Performance

Shares of IBEX traded up $0.28 during trading hours on Tuesday, hitting $20.45. 94,004 shares of the stock were exchanged, compared to its average volume of 75,684. IBEX has a fifty-two week low of $13.00 and a fifty-two week high of $21.63. The business has a 50-day moving average of $19.50 and a 200-day moving average of $17.88. The firm has a market capitalization of $342.84 million, a P/E ratio of 10.67 and a beta of 0.80.

Insider Buying and Selling

In other news, major shareholder Gem G.P. L.P. Pinebridge II sold 78,728 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $20.12, for a total transaction of $1,584,007.36. Following the sale, the insider now directly owns 1,641,011 shares of the company's stock, valued at $33,017,141.32. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mohammedulla Khaishgi sold 1,883 shares of the company's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $20.00, for a total transaction of $37,660.00. Following the sale, the director now owns 99,636 shares of the company's stock, valued at $1,992,720. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 451,329 shares of company stock valued at $9,021,471. Insiders own 6.72% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in IBEX by 314.5% during the third quarter. FMR LLC now owns 2,139 shares of the company's stock worth $43,000 after acquiring an additional 1,623 shares during the period. Meeder Asset Management Inc. purchased a new stake in IBEX during the second quarter valued at about $38,000. Public Employees Retirement System of Ohio purchased a new position in IBEX in the 3rd quarter worth $68,000. Janus Henderson Group PLC boosted its position in IBEX by 11.9% during the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company's stock valued at $347,000 after buying an additional 1,842 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in shares of IBEX during the third quarter valued at approximately $371,000. Institutional investors and hedge funds own 81.24% of the company's stock.

About IBEX

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.