JPMorgan Chase & Co. Raises Stock Position in IBEX Limited (NASDAQ:IBEX)

JPMorgan Chase & Co. raised its stake in IBEX Limited (NASDAQ:IBEX - Free Report) by 386.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,345 shares of the company's stock after buying an additional 15,372 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of IBEX worth $387,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in IBEX by 114.6% in the third quarter. Jane Street Group LLC now owns 29,960 shares of the company's stock valued at $599,000 after buying an additional 15,999 shares in the last quarter. Barclays PLC increased its holdings in IBEX by 95.2% in the third quarter. Barclays PLC now owns 20,636 shares of the company's stock valued at $412,000 after buying an additional 10,062 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of IBEX in the third quarter valued at approximately $522,000. Janus Henderson Group PLC grew its position in shares of IBEX by 11.9% in the third quarter. Janus Henderson Group PLC now owns 17,361 shares of the company's stock valued at $347,000 after purchasing an additional 1,842 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of IBEX by 6.2% in the third quarter. Victory Capital Management Inc. now owns 58,657 shares of the company's stock valued at $1,172,000 after purchasing an additional 3,450 shares during the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

IBEX Trading Down 1.0 %

Shares of IBEX stock traded down $0.23 during trading hours on Thursday, hitting $22.09. The company's stock had a trading volume of 105,560 shares, compared to its average volume of 126,108. The business has a fifty day moving average of $21.05 and a 200-day moving average of $19.10. The stock has a market cap of $370.34 million, a price-to-earnings ratio of 11.69 and a beta of 0.78. IBEX Limited has a twelve month low of $13.00 and a twelve month high of $22.67.

IBEX (NASDAQ:IBEX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter. IBEX had a net margin of 6.57% and a return on equity of 22.54%. The firm had revenue of $129.72 million for the quarter.

Analysts Set New Price Targets

Separately, Robert W. Baird increased their price target on shares of IBEX from $23.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.25.

Insider Buying and Selling

In other IBEX news, Director Group International L. Resource sold 2,011 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $20.00, for a total transaction of $40,220.00. Following the transaction, the director now owns 5,348,432 shares of the company's stock, valued at $106,968,640. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Thomas Dechant sold 3,008 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $22.50, for a total transaction of $67,680.00. Following the transaction, the chief executive officer now directly owns 223,633 shares in the company, valued at approximately $5,031,742.50. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,694 shares of company stock worth $6,653,798. 6.72% of the stock is owned by insiders.

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.