Ibex Ltd Director Sells Over $524K in Company Stock

In a recent development, Mohammedulla Khaishgi, a director at IBEX Ltd, has sold a substantial number of shares in the company. The latest filings reveal that Khaishgi disposed of shares valued at over $524,000 across several trades, with prices fluctuating between $20.0018 and $20.1339.

These transactions occurred over two consecutive days. On September 23, 2024, Khaishgi sold 12,600 shares at a weighted average price of $20.1002, along with another 10,000 shares at $20.1339. The following day, he sold 1,727 shares averaging $20.0018 and 1,755 shares at an average of $20.0028. These sales were executed through multiple trades within the specified price ranges.

After these transactions, Khaishgi’s direct ownership in IBEX Ltd stands at 277,077 shares. Furthermore, as the trustee of the Allibhoy Khaishgi Family Foundation, he has an indirect ownership of 107,734 shares. These recent sales have adjusted his total direct and indirect holdings in the company.

Investors and followers of IBEX Ltd may view these transactions as part of the ongoing financial activities involving the company’s insiders. The specifics of the sales, including the number of shares sold at each price, are available through official channels as required by regulatory authorities.

The filing was submitted on behalf of Khaishgi by Lisa Lenstrohm, his attorney-in-fact, on September 24, 2024.

In other news, IBEX Ltd has seen a series of significant financial updates. The company reported a transformative year, achieving record earnings per share (EPS) of $2.10 and free cash flow of $27 million. Although there was a slight annual revenue decrease to $509 million, Q4 revenue figures indicated a potential return to growth. Both Baird and RBC Capital Markets have adjusted their price targets for IBEX, showcasing confidence in the company’s future performance.

Baird raised its price target for IBEX shares to $23.00, up from $20.00, while retaining an Outperform rating. This adjustment followed discussions with IBEX management, highlighting a potential for 5-7% revenue growth and 15% EBITDA margins, partly driven by advancements in artificial intelligence.

Conversely, RBC Capital Markets increased its price target from $18 to $20 while maintaining a Sector Perform rating. Their analysis emphasizes a resurgence in revenue growth and a strategic focus on more profitable service areas.

These developments reflect the recent trends and future projections for IBEX, with both Baird and RBC Capital Markets expressing optimism about the company’s strategic direction and growth potential.

As investors evaluate the recent insider sales at IBEX Ltd, it’s essential to consider the company’s financial stability and market performance. With a market capitalization of $335.9 million and a P/E ratio of 10.5, the stock may appear undervalued in light of its near-term earnings growth. This is further supported by an adjusted P/E ratio of 9.3 over the past twelve months as of Q4 2024.

Notably, IBEX Ltd has exhibited strong performance metrics, with a 17.07% increase over the past month and an impressive 23.78% rise over the last three months. Such figures indicate a notable upward trend in the stock’s price, currently trading near its 52-week high. Additionally, the company has remained profitable over the last twelve months, aligning with analysts’ predictions for ongoing profitability this year.

A key point for investors to consider is that IBEX Ltd’s management has been actively engaging in share buybacks, often seen as a sign of confidence in the company’s future. Moreover, the company’s cash flows are sufficient to cover interest payments, with liquid assets comfortably exceeding short-term obligations, indicating a solid liquidity position.

Understanding these financial and market indicators offers investors a more nuanced view of the insider transactions and potential investment opportunities with IBEX Ltd.

This article was generated with the support of AI and reviewed by an editor.