WASHINGTON—Keen Shuja, a director at IBEX Ltd (NASDAQ:IBEX), a company currently valued at $335 million and trading at an attractive P/E ratio of 10.3, has reported the sale of 17,000 common shares, according to a recent SEC filing. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts setting price targets between $21 and $26. The transactions, executed on December 12, 2024, were conducted at prices ranging from $20.26 to $20.281 per share, totaling approximately $344,630.
Following these transactions, Shuja retains ownership of 71,110 shares, held indirectly through Adia Global LLC. The sales were carried out in multiple trades, with the weighted average price reflecting the reported figures.
In other recent news, IBEX Ltd has seen significant developments. At its annual general meeting, shareholders approved setting the board of directors' size, electing directors, and appointing the company's auditor for the upcoming fiscal year. Notably, the company has also repurchased approximately 20% of its diluted shares from The Resource Group International, Limited, for a total of $70 million, ending its status as a "controlled company" under Nasdaq rules.
The company has reported a strong start to fiscal year 2025, with record Q1 revenue of $129.7 million, a 4.1% increase from the previous year. Adjusted EBITDA rose to $15.6 million, and adjusted EPS increased by 30% to $0.52. Consequently, IBEX raised its full-year revenue guidance to between $515 million and $525 million, with adjusted EBITDA expected to reach $67 million to $69 million.
Despite a slight decline in net cash from operating activities and an increase in Days Sales Outstanding, IBEX remains optimistic about its future prospects. The company has expanded its higher-margin offshore and nearshore services, now comprising 76% of total revenue, and launched three new client relationships. These are the recent developments that investors should be aware of.
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