Director of Ibex Ltd sells more than $1.28 million in shares of the company by Investing.com

In a recent series of transactions, an executive of IBEX Ltd (NASDAQ: ), who is also a ten percent owner, sold a significant number of shares in the company, totaling more than $1.28 million. The sales took place over three separate days, with prices ranging from $20.00 to $20.0495 per share.

On September 19, 2024, the director sold 1,572 shares at a price of $20.00 each. The next day, another 3,303 shares were sold at slightly varying prices, with a weighted average of $20.002. Selling continued on September 23, when the director disposed of 59,269 shares at a weighted average price of $20.0495. These last two transactions involved sales at multiple prices within a specified range.

The transactions left the director with a substantial holding of 5,375,114 shares in IBEX Ltd following the sales. According to footnotes in the filing, The Resource Group International Limited, which made the sale, directly owns the shares. However, The Resource Group Pakistan may be deemed to beneficially own the shares because of its relationship with The Resource Group International Limited, but disclaims beneficial ownership except for its pecuniary interest.

The sale was signed by Mohammed Khaishgi, CEO of The Resource Group International Limited, on September 23, 2024. This move by a senior insider is often closely watched by investors as it can provide insight into the company’s performance and future prospects. .

In other recent news, IBEX Ltd. has been at the center of significant developments. The company had a transformative year with record earnings per share (EPS) growth to $2.10 and free cash flow growth to $27 million. Despite a slight drop in annual revenue to $509 million, IBEX’s Q4 revenue showed a year-over-year increase, suggesting a return to growth. The company enters fiscal 2025 with a positive outlook, projecting revenue of $510 million to $525 million and adjusted EBITDA of $67 million to $69 million.

Financial services firm Baird raised their target price on shares of IBEX to $23.00, maintaining an Outperform rating. The firm notes the company’s aspirations to achieve revenue growth of 5-7% and EBITDA margins of 15% over time, with artificial intelligence playing a significant role. Simultaneously, RBC Capital Markets raised its target price for IBEX from $18 to $20, maintaining a Sector Perform rating. The adjustment followed IBEX’s recent announcement of a return to revenue growth.

Furthermore, Baird reaffirmed its Outperform rating on IBEX with a $20.00 steady price target following the company’s strong fourth quarter financial results. The company’s analysis revealed that IBEX revenue, EBITDA and EPS for the quarter exceeded Wall Street expectations. These recent developments underscore the positive trajectory of IBEX’s financial performance.

InvestingPro Insights

Amid the recent insider trading at IBEX Ltd, it is noteworthy to consider the company’s current financial health and market performance. With a market cap of $336.4 million, IBEX Ltd trades at a P/E ratio of 10.53, suggesting a valuation that may be attractive to investors looking for earnings at a reasonable price. Adjusted for the trailing twelve months to Q4 2024, the P/E ratio is even lower at 9.35. This is complemented by a PEG ratio of 0.98 for the same period, indicating a potential alignment between the company’s earnings growth rate and its share price.

InvestingPro Tips points out that IBEX Ltd’s management has been actively buying shares, which could signal their confidence in the company’s value. Additionally, the stock is identified as trading near its 52-week high, with a price that represents 97.71% of this peak, reflecting strong recent performance. Over the past six months, the stock has seen a high price increase of 33.93%, and analysts are forecasting profitability for the company this year.

For investors looking for additional information, InvestingPro offers a suite of additional advice for IBEX Ltd, including analysis of shareholder returns, liquidity and debt levels. With 14 other InvestingPro tips available, there is a wealth of information for those considering an investment in IBEX Ltd. To explore this information, visit: https://www.investing.com/pro/IBEX

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