IBEX Limited (NASDAQ:IBEX) Sees Large Drop in Short Interest

IBEX Limited (NASDAQ:IBEX) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 148,200 shares, a drop of 11.5% from the May 15th total of 167,400 shares. Based on an average daily trading volume, of 45,800 shares, the short-interest ratio is currently 3.2 days. Currently, 1.5% of the company’s stock are sold short.

Institutional Trading of IBEX

A number of large investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in shares of IBEX by 30.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,750 shares of the company’s stock worth $537,000 after purchasing an additional 8,159 shares in the last quarter. Barclays PLC lifted its holdings in shares of IBEX by 15.9% in the 3rd quarter. Barclays PLC now owns 9,932 shares of the company’s stock worth $154,000 after acquiring an additional 1,363 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of IBEX by 6.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 40,925 shares of the company’s stock valued at $632,000 after purchasing an additional 2,621 shares during the last quarter. Trexquant Investment LP raised its position in IBEX by 13.0% in the 3rd quarter. Trexquant Investment LP now owns 18,106 shares of the company’s stock worth $280,000 after purchasing an additional 2,085 shares during the period. Finally, AQR Capital Management LLC lifted its stake in IBEX by 60.0% in the third quarter. AQR Capital Management LLC now owns 343,663 shares of the company’s stock worth $5,310,000 after purchasing an additional 128,850 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

IBEX Stock Performance

NASDAQ IBEX traded down $0.31 during trading on Tuesday, hitting $15.79. 78,029 shares of the company’s stock traded hands, compared to its average volume of 55,058. The business has a 50 day moving average of $14.63 and a 200-day moving average of $16.01. The stock has a market capitalization of $271.81 million, a price-to-earnings ratio of 10.52 and a beta of 0.73. IBEX has a 12-month low of $11.45 and a 12-month high of $21.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.42 and a current ratio of 2.42.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09. The company had revenue of $126.80 million during the quarter. IBEX had a net margin of 5.57% and a return on equity of 20.23%. During the same period in the prior year, the firm posted $0.52 EPS.

Wall Street Analysts Forecast Growth

IBEX has been the topic of a number of recent analyst reports. TheStreet lowered IBEX from a “b-” rating to a “c+” rating in a report on Wednesday, March 6th. Robert W. Baird lowered their price objective on shares of IBEX from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IBEX currently has an average rating of “Hold” and a consensus price target of $19.20.

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.